Glendale, Ariz., to price $199.75 million in excise tax revenue bonds

By Sheri Kasprzak

New York, Oct. 16 - Glendale, Ariz., is expected to price $199.75 million in series 2008 third-lien excise tax revenue bonds, according to a preliminary official statement. The bonds will be sold for the Third Loop 101 Public Facilities Corp.

The bonds (A2/AA/) will be sold on a negotiated basis with Wachovia Bank as the senior manager. The co-managers are J.P. Morgan Securities Inc., Merrill Lynch and Siebert Brandford Shank & Co.

The sale includes $134.72 million in series 2008A bonds, $49.485 million in series 2008B bonds and $15.995 million in series 2008C bonds.

Both the 2008A bonds and the 2008B bonds are due from 2017 to 2038. The 2008C bonds are due from 2014 to 2017.

Proceeds will be used to reimburse the city for the construction of a Major League baseball spring-training facility.

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