Memphis, Tenn., organizes $311.8 million general improvement bonds

By Sheri Kasprzak

New York, Feb. 27 - The City of Memphis, Tenn., is set to price $311,795,000 of series 2014 general improvement bonds, according to a preliminary official statement.

The deal includes $106,035,000 of series 2014A general improvement refunding bonds and $205.76 million of series 2014B general improvement refunding bonds.

The 2014A bonds (/AA/) will be sold on a negotiated basis with Raymond James/Morgan Keegan as the senior manager. The co-managers are Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC.

The 2014B bonds (/AA/) will be sold through senior manager Duncan-Williams Inc. The co-managers are Raymond James/Morgan Keegan, SunTrust Robinson Humphrey Inc., Piper Jaffray & Co. and Harvestons Securities Inc.

The maturities have not been set.

Proceeds will be used to refund the city's series 2004, 2006A and 2007A bonds, as well as commercial paper.

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