Mobile Downtown authority, Ala., to sell $60 million bonds for Austal

By Sheri Kasprzak

New York, Oct. 2 - The Mobile Downtown Redevelopment Authority in Alabama plans to sell $60 million in series 2009 variable-rate revenue bonds, according to a preliminary official statement. The bonds will be sold for Austal USA LLC.

The bonds will be sold on a negotiated basis with Merrill Lynch & Co. Inc. and Thornton Farish Inc. as the senior managers.

The bonds are due Sept. 1, 2039.

Proceeds will be used to fund manufacturing facilities of Austal USA LLC to expand shipbuilding capabilities.

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