San Francisco Successor Agency organizes $55.43 million TABs offering

By Sheri Kasprzak

New York, Feb. 18 - The Successor Agency to the Redevelopment Agency of the City and County of San Francisco is slated to price $55,425,000 of series 2014A tax allocation bonds for the Mission Bay South Redevelopment project, according to a preliminary official statement.

The bonds (/BBB+/) will be sold on a negotiated basis with De La Rosa & Co. Inc. and Backstrom McCarley Berry & Co. LLC as the senior managers.

The maturities have not been set.

Proceeds will be used to reimburse FOCIL-MB LLC, the primary contractor for the Mission Bay South project, a residential and commercial complex bordered by the San Francisco Bay and Interstate 280 freeway, for construction costs.

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