Macon-Bibb County IDA, Ga., preps $160 million revenue bond offering

By Sheri Kasprzak

New York, Nov. 23 – The Macon-Bibb County Industrial Development Authority of Georgia is set to price $160 million of series 2015 industrial development revenue bonds for Tumho Tire Georgia Inc., according to a preliminary official statement.

The offering includes $100 million of series 2015A taxable bonds and $60 million of series 2015B taxable bonds.

The authority is authorized to price up to $300 million of the bonds.

Both tranches are due Dec. 1, 2022.

The variable-rate bonds will initially bear interest at the weekly rate.

The bonds (Aa3/P-1/AA-/A-1+/) will be sold on a negotiated basis with BofA Merrill Lynch as the underwriter.

Proceeds will be used for a loan to Tumho Tire Georgia.

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