Tampa Bay Water preps $292.82 million sale of refunding revenue bonds

By Sheri Kasprzak

New York, July 11 - The Tampa Bay Water Authority of Florida is set to sell $292.815 million of series 2011 utility system refunding revenue bonds, said a preliminary official statement.

The deal includes $142.39 million of series 2011A bonds and $150.425 million of series 2011B bonds.

The bonds (Aa2/AA+/AA+) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager for the 2011A bonds and Raymond James & Associates Inc. as the lead manager for the 2011B bonds.

The co-senior managers for the 2011A bonds are Bank of America Merrill Lynch, Morgan Stanley & Co. Inc. and Raymond James. The co-senior managers for the 2011B bonds are Bank of America Merrill Lynch, Citigroup and Morgan Stanley.

The co-managers for both tranches are Goldman Sachs & Co., J.P. Morgan Securities LLC, Loop Capital Markets, RBC Capital Markets LLC and Wells Fargo Securities LLC.

The bonds are due 2011 to 2024.

Proceeds will be used to refund the authority's outstanding series 2001A-B revenue bonds.

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