Wayne County Airport Authority, Mich., to sell $282 million of bonds

By Sheri Kasprzak

New York, Aug. 14 - The Wayne County Airport Authority of Michigan is prepared to price $282 million of series 2012 airport revenue bonds, said a preliminary official statement.

The deal includes $180 million of series 2012A non-AMT bonds, $25 million of series 2012B AMT bonds, $4 million of series 2012C non-AMT refunding bonds and $73 million of series 2012D AMT refunding bonds.

Citigroup Global Markets Inc. is the senior manager for the offering. The co-managers for the 2012A and 2012B bonds are J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC, Bank of America Merrill Lynch and Loop Capital Markets LLC. The co-managers for the 2012C and 2012D bonds are J.P. Morgan, Siebert, Wells Fargo Securities LLC and Loop.

The maturities have not been set.

Proceeds will be used to make capital improvements to the Detroit Wayne County Metropolitan Airport as well as to refund the authority's series 1998A and 2002C-D revenue bonds.

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