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Rochester schools, N.Y., to price $123.85 million of revenue bonds
By Sheri Kasprzak
New York, June 6 - The County of Monroe Industrial Development Authority of New York is set to price $123.85 million of series 2012 school facilities revenue bonds for the Rochester Schools Project, according to a preliminary official statement.
The deal includes $65.94 million of series 2012A tax-exempt bonds and $57.91 million of series 2012B taxable qualified school construction bonds.
The bonds (Aa3/AA-/AA-) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager. The co-managers are M.R. Beal & Co., Lebenthal & Co. and Ramirez & Co. Inc.
The 2012A bonds are due 2014 to 2022. The 2012B bonds will have a term maturity, but it has not been set.
Proceeds will be used to finance renovations to existing Rochester, N.Y., schools and to construct new school facilities.
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