Tampa Bay Regional Water, Fla., prepares $264.22 million bond offering

By Sheri Kasprzak

New York, Jan. 27 – The Tampa Bay Regional Water Authority is set to price $264.22 million of series 2015 utility system refunding revenue bonds, according to a preliminary official statement.

The deal includes $167,945,000 of series 2015A bonds and $96,275,000 of series 2015B taxable bonds.

The bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager for the 2015A bonds and Raymond James/Morgan Keegan as the lead manager for the 2015B bonds. The co-managers for the 2015A bonds are BofA Merrill Lynch, Morgan Stanley & Co. LLC, Raymond James and Wells Fargo Securities LLC. The co-managers for the 2015B bonds are BofA, Citigroup, Morgan Stanley and Wells Fargo.

The 2015A bonds are due 2025 to 2036.

The 2015B bonds are due 2015 to 2031.

Proceeds will be used to refund the authority’s series 2006 and 2011A-B revenue bonds.

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