Memphis plans $69.07 million sale of general improvement bonds

By Sheri Kasprzak

New York, March 31 - The City of Memphis is set to price $69.07 million in series 2010 general improvement bonds, according to a preliminary official statement.

The sale includes $28.995 million in series 2010A bonds and $40.075 million in series 2010B Build America Bonds.

The bonds (A1/AA/A+) will be sold through Loop Capital Markets LLC with Duncan-Williams Inc. and Rice Financial Products Co. as the co-managers.

The 2010A bonds are due 2013 to 2022, and the 2010B bonds are due 2022 to 2030.

Proceeds will be used to fund capital improvements throughout the city.

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