Phoenix Civic Improvement to price $123.49 million of wastewater bonds

By Sheri Kasprzak

New York, Dec. 5 - The Phoenix Civic Improvement Corp. of Arizona is slated to come to market Tuesday with $123.49 million of series 2011 junior lien wastewater system revenue refunding bonds, according to a new issue calendar.

The bonds (Aa2/AA+) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the lead manager.

Proceeds from the deal will be used to refund previously issued junior lien revenue bonds for an up-front debt service savings.

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