Lower Alabama Gas expected to sell up to $675 million revenue bonds

By Sheri Kasprzak

New York, Feb. 16 – The Lower Alabama Gas District is set to price up to $675 million of series 2016A gas project revenue bonds, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with Goldman Sachs & Co. as the senior manager. The co-managers are RBC Capital Markets LLC and Stifel, Nicolaus & Co. Inc.

The bonds are due 2017 to 2046.

Proceeds will be used to prepay a 30-year gas acquisition contract.

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