Public Gas Partners, Ga., to sell $165.86 million Gas Supply Pool No. 1 bonds

By Sheri Kasprzak

New York, Nov. 14 - Public Gas Partners, Inc. in Georgia is gearing up to sell $165.86 million in gas project revenue bonds for Gas Supply Pool No. 1, according to a preliminary official statement.

The bonds (A2/A/A) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Wachovia Bank as the lead managers.

The sale includes $110.36 million in series 2008A tax-exempt bonds and $55.5 million in series 2008B taxable bonds.

The 2008A bonds are due 2011 to 2018 with term bonds due 2022. The 2008B bonds are due 2022.

Proceeds will be used to repay a line of credit used to acquire the company's Gas Supply Pool No. 1.

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