Montgomery County IDB, Tenn., authorized to sell $300 million of bonds

By Sheri Kasprzak

New York, Nov. 19 – The Montgomery County Industrial Development Board of Tennessee is set to price $30 million of series 2014A taxable industrial development bonds for Hankook Tire Manufacturing Tennessee LP with the authority to price up to $300 million of the bonds, according to a preliminary official statement.

The bonds (P-1/A1/A-1/A/) will be sold through senior manager BofA Merrill Lynch.

The bonds are due Dec. 1, 2024.

Proceeds will be used to finance a loan to Hankook to acquire, construct and equip a manufacturing plant in Montgomery County to produce radial tires.

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