Pasadena Public Financing, Calif., prepares $163 million offering of Rose Bowl revenue bonds

By Sheri Kasprzak

New York, Nov. 8 - The Pasadena Public Financing Authority of California plans to sell $163 million of series 2010 lease revenue bonds for the Rose Bowl improvement project, according to a preliminary official statement.

The offering includes $39.925 million of series 2010A tax-exempt bonds, $104.56 million of series 2010B Build America Bonds, $11.115 million of series 2010C taxable bonds and $7.4 million of series 2010D recovery zone economic development bonds.

The bonds will be sold on a negotiated basis with BMO Capital Markets as the senior manager and Stone & Youngberg as the co-manager.

The maturities have not been set.

Proceeds will be used to renovate the city's Rose Bowl Stadium over the next three years.

Based in Pasadena, Calif., the authority provides financing for capital projects throughout the city.

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