Philadelphia to price $184.79 million G.O. bonds Dec. 8 week

By Sheri Kasprzak

New York, Dec. 5 - The city of Philadelphia is planning to sell $184.785 million in series 2008B general obligation bonds during the week of Dec. 8, according to a preliminary official statement released Friday.

The bonds (Baa1/BBB/BBB+) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager. The co-managers are Merrill Lynch & Co., Siebert Brandford Shank & Co., Loop Capital Markets, Janney Montgomery Scott, PNC Capital Markets and RBC Capital Markets.

The bonds are due 2009 to 2018 with term bonds. The exact maturities of the term bonds have not yet been determined.

Proceeds will be used to reimburse the city for certain capital projects.

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