Black Belt Energy, Ala., plans $773.85 million sale of revenue bonds

By Sheri Kasprzak

New York, June 7 - Black Belt Energy Gas District of Alabama is expected to price $773,845,000 of series 2012A gas project revenue bonds, said a preliminary official statement.

The bonds (A1/A-/A) will be sold on a negotiated basis with Goldman, Sachs & Co. and Merchant Capital LLC as the lead managers.

The bonds are due 2013 to 2042.

Proceeds will be used to acquire natural gas as part of a prepaid natural gas purchase agreement.

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