Philadelphia to offer $200 million water and wastewater revenue bonds

By Cristal Cody

Tupelo, Miss., Aug. 6 - The City of Philadelphia intends to offer $200 million of water and wastewater revenue bonds, according to a preliminary official statement.

The series 2013A bonds (A1/A/A+) have serial maturities from 2017 through 2023 and a term bond due 2043.

Morgan Stanley and Siebert Brandford Shank & Co. LLC are the senior managers. Co-managers are BofA Merrill Lynch, Drexel Hamilton LLC, Janney Montgomery Scott LLC and TD Securities Inc.

Proceeds will be used to finance capital improvements to the city's water and wastewater systems.

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