Tennessee School Bond Authority readies $148.89 million bond offering

By Sheri Kasprzak

New York, Nov. 4 - The Tennessee State School Bond Authority is expected to price $148,895,000 of series 2013A higher educational facilities second program bonds during the week of Nov. 4, according to a sales calendar.

The bonds (Aa1//AA+) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager and Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Raymond James/Morgan Keegan as the co-managers.

The bonds are due 2014 to 2043.

Proceeds will be used to finance the construction and renovation of residence halls, stadiums, classrooms and other facilities at Tennessee colleges and universities, as well as to retire commercial paper issued for the projects.

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