Water Infrastructure Finance Authority of Arizona's $249.125 million bonds to price Tuesday

By Sheri Kasprzak

New York, April 18 - The Water Infrastructure Finance Authority of Arizona plans to price its previously announced offering of $249.125 million in series 2008A water quality revenue bonds on Tuesday, a preliminary official statement said Friday.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with RBC Capital Markets and Stone & Youngberg as the senior managers. The co-managers are Bear, Stearns & Co., Merrill Lynch and Ramirez & Co. Piper Jaffray is the financial adviser for the sale.

The bonds are due 2009 to 2028.

Proceeds will be used to make loans connected to funding water quality improvement projects and to make a deposit to the authority's reserve account.

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