Cleveland announces $50.6 million sale of G.O. bonds via KeyBanc

By Sheri Kasprzak

New York, April 27 - The City of Cleveland is expected to price $50,595,000 of series 2012 various purpose and refunding general obligation bonds, said a preliminary official statement.

The bonds (A1/AA/) will be sold on a negotiated basis with KeyBanc Capital Markets Inc. as the senior manager. The co-managers are CastleOak Securities LP, Fifth Third Securities Inc., Mesirow Financial Inc. and PNC Capital Markets LLC.

The bonds are due 2012 to 2030 with a term bond due in 2032.

Proceeds will be used to finance capital projects and to refund the city's series 2002, 2003 and 2004 general obligation bonds.

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