Wayne County Airport, Mich., prepares $107.36 million revenue bonds

By Sheri Kasprzak

New York, July 24 – The Wayne County Airport Authority of Michigan plans to sell $107.36 million of series 2014 airport revenue bonds, according to a preliminary official statement.

The deal includes $72,515,000 of series 2014B non-AMT bonds and $34,845,000 of series 2014C AMT bonds.

The bonds (A2) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as the senior managers. The co-managers are BofA Merrill Lynch, PNC Capital Markets LLC and Wells Fargo Securities LLC.

The 2014B bonds are due 2017 to 2034 with term bonds due in 2039 and 2044. The 2014C bonds are due 2017 to 2034 with term bonds due in 2039 and 2044.

Proceeds will be used to make capital improvements at the airport as part of the authority’s five-year capital improvement plan, including airfield improvements and power plant upgrades.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.