Industrial development of Kirkwood, Mo., to sell $172.8 million bonds

By Sheri Kasprzak

New York, Oct. 16 - The Industrial Development Authority of the City of Kirkwood in Missouri plans to price $172.795 million in series 2009 retirement community revenue bonds, according to a preliminary official statement.

The sale includes $98.345 million in series 2009A revenue bonds and $8.075 million in series 2009B accelerated redemption reset option securities, as well as $32.225 million in series 2009C-1 tax-exempt mandatory paydown securities. The deal also includes $33.8 million in series 2009C-2 tax-exempt mandatory paydown securities and $350,000 in series 2009D taxable mandatory paydown securities.

The bonds will be sold through Ziegler Capital Markets Inc.

The maturities have not yet been set.

Proceeds will be used to construct the Aberdeen Heights Commons retirement community.

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