Michigan Finance to price revenue bonds for Detroit school district

By Sheri Kasprzak

New York, Sept. 29 - The Michigan Finance Authority is expected to sell $239.06 million of series 2011 revenue bonds for the School District of the City of Detroit, according to a preliminary official statement.

The bonds (A+) will be sold on a negotiated basis with Siebert Brandford Shank & Co. LLC as the senior manager and J.P. Morgan Securities LLC as the co-manager.

The bonds are due 2012 to 2021.

Proceeds will be used to refinance the district's series 2011A-1 and 2011A-2 state aid notes.

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