Pennsylvania Economic Development to sell $112 million revenue bonds

By Sheri Kasprzak

New York, Dec. 12 - The Pennsylvania Economic Development Finance Authority plans to sell $112 million of series 2011 governmental lease revenue bonds on Thursday, according to a sales calendar.

The bonds (Aa3) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager.

Proceeds from the offering will help purchase a building and parking garage located adjacent to the state capitol building. The building is occupied mostly by commonwealth offices. The owner of the building, the Dauphin County General Authority, will use the sale proceeds to refund outstanding bonds.

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