Philadelphia prepares $176.08 million general obligation bond offering

By Sheri Kasprzak

New York, May 1 – The City of Philadelphia is set to price $176,075,000 of series 2015A general obligation refunding bonds on Tuesday, according to a preliminary official statement.

The bonds (A2/A+/A-) will be sold on a negotiated basis with Wells Fargo Securities LLC and Loop Capital Markets LLC as the senior managers. The co-managers are BNY Mellon Capital Markets LLC, Blaylock Beal Van LLC, Mesirow Financial Inc. and RBC Capital Markets LLC.

The bonds are due 2017 to 2031.

Proceeds will be used to refund the city’s series 2006, 2008B and 2011 G.O. bonds.

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