Wayne County, Mich., to sell $74.8 million bonds for Detroit airport

By Cristal Cody

Tupelo, Miss., Oct. 7 - The Wayne County Airport Authority intends to price $74.795 million revenue refunding bonds for the Detroit Metropolitan Wayne County Airport, according to a preliminary official statement.

The $37.465 million series 2008E and $37.33 million series 2008F bonds will price initially with weekly interest rates.

The term bonds (Aaa/AAA/AA+) are due in 2016.

J.P. Morgan Securities Inc. will manage the negotiated sale of the series 2008E bonds, and Citigroup Global Markets Inc. will manage the series 2008F bonds.

Proceeds will be used to refund a portion of the outstanding series 1996A revenue bonds and 1996B revenue refunding bonds.

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