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Clearwater, Fla., plans $111.54 million two-tranche bond offering
By Aaron Hochman-Zimmerman
New York, May 8 - Clearwater, Fla., announced plans to issue $111.54 million in revenue and refunding bonds on Wednesday (Aa2/AAA/AA, insured; A2/AA-/A, underlying), according to a forward calendar.
The $68.675 million series 2009A water and sewer revenue bonds will include serial maturities from 2019 to 2028 as well as term bonds.
The $42.86 million series 2009B water and sewer revenue refunding bonds will carry serial maturities from 2009 to 2018.
Wachovia Bank NA will act as lead underwriter for the negotiated issue. RBC Capital Markets Corp., Fifth Third Securities Inc. and Merrill Lynch & Co. will act as co-managers. Raymond James & Associates Inc. will act as financial adviser.
Proceeds from the sale will be used for capital improvements and the retiring of outstanding debt.
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