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Orlando, Fla., prepares $238.59 million of tourist development bonds
By Sheri Kasprzak
New York, March 17 - The City of Orlando, Fla., is expected to price $238,585,000 of series 2014A contract tourist development tax payments revenue bonds, according to a preliminary official statement.
The bonds (Aa2//AA+) will be sold on a negotiated basis with BofA Merrill Lynch and Citigroup Global Markets Inc. The co-managers are Cabrera Capital Markets LLC, J.P. Morgan Securities LLC, Jefferies & Co., Rice Financial Products Co. and Stifel, Nicolaus & Co. LLC.
The bonds are due 2016 to 2034 with term bonds due in 2039 and 2044.
Proceeds will be used to construct, acquire, repair and renovate a stadium and performing arts center in the city.
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