Wayne County Airport, Mich., to sell $74.795 million bonds Oct. 2

By Sheri Kasprzak

New York, Sept. 25 - The Wayne County Airport Authority in Michigan intends to price $74.795 million in series 2008 airport revenue refunding bonds on Oct. 2, said a sellside source associated with the deal. The bonds are being sold for the Detroit Metropolitan Wayne County Airport.

"We're aiming for Oct. 2," the source said. "With market conditions the way they are, that might change, but that's the plan for right now."

The sale includes $37.33 million in series 2008E bonds and $37.465 million in series 2008F bonds.

The bonds (Aaa/VMIG1/AAA/A-1+/) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Citigroup Global Markets as the senior managers.

Proceeds will be used to refund the authority's outstanding series 1996A and 1996B bonds.

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