Commonwealth Financing Authority, Pa., plans $196.29 million bond sale

By Sheri Kasprzak

New York, March 31 – The Commonwealth Financing Authority of Pennsylvania is set to price $196.29 million of series 2015 revenue bonds, according to a preliminary official statement.

The offering includes $96 million of series 2015A tax-exempt bonds, $96,915,000 of series 2015B-1 tax-exempt refunding bonds and $3,375,000 of series 2015B-2 taxable refunding bonds.

The bonds (A2/A+/A+) will be sold on a negotiated basis with PNC Capital Markets LLC as the senior manager and Janney Montgomery Scott LLC and RBC Capital Markets LLC as the co-managers.

The 2015A bonds are due 2016 to 2035. The 2015B-1 bonds are due 2021 to 2026, and the 2015B-2 bonds are due in 2021.

Proceeds will be used to provide additional financing for the Alternative Energy Development Program, as well as to refund the authority’s series 2005A-B and 2006 revenue bonds.

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