Georgia Tech Athletic offers $124.54 million revenue bonds

By Cristal Cody

Prospect News, Jan. 27 - The Development Authority of Fulton County intends to sell $124.54 million of revenue bonds (A2//A+) in two tranches for Georgia Tech Athletic Association, according to a preliminary official statement.

The offering includes $97,925,000 of series 2012A bonds and $26,615,000 of series 2012B bonds.

The series 2012A bonds have serial maturities in 2019, 2022 and 2027 through 2032 and terms due in 2036 and 2042.

The series 2012B bonds have serial maturities from Oct. 1, 2012 through Oct. 1, 2027 and terms due 2031 and 2037.

Bank of America Merrill Lynch is the bookrunner.

Proceeds will be used to refund the outstanding series 2001 revenue bonds and to finance or refinance improvements on the campus of the Georgia Institute of Technology and to pay a termination payment related to a swap.

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