By Cristal Cody
Springdale, Ark., July 29 - The city of Lakeland, Fla., priced $100 million variable-rate energy system revenue and refunding bonds with a 2.05% initial rate on Tuesday, the issuer told Prospect News.
The series 2008A weekly interest rate bonds (Aa1/AA+/AAA) were sold in a negotiated sale managed by Goldman, Sachs & Co.
The city plans to price its previously announced $100 million series 2008B daily variable-rate revenue and refunding bonds (Aa2/AA-/AA) on Wednesday, said Jeff Stearnes, treasury manager.
The bonds will price in a negotiated sale managed by SunTrust Robinson Humphrey.
Both bond series are due in 2037.
Proceeds will be used to repurchase obligations and provide new money for environmental remediation projects.
| Issuer: | Lakeland, Fla.
|
| Issue: | Series 2008A variable-rate energy system revenue and refunding bonds
|
| Total amount: | $100 million
|
| Type: | Negotiated
|
| Initial rate: | 2.05%
|
| Resets: | Weekly
|
| Maturity: | 2037
|
| Underwriter: | Goldman, Sachs & Co.
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | July 29
|
| Settlement date: | July 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
