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West Palm Beach, Fla., to price $68.965 million bonds Tuesday, $100.325 million bonds in June
By Cristal Cody
Springdale, Ark., June 13 - West Palm Beach, Fla., plans to price $68.965 million refunding and revenue bonds on Tuesday, a source with the issuer confirmed.
The sale includes $54.525 million series 2008A utility system revenue refunding bonds and $14.44 million series 2008B revenue bonds.
The city also plans to price $100.325 million series 2008C variable-rate revenue bonds later in June.
The series 2008A bonds have serial maturities from 2010 through 2029.
The series 2008B bonds have serial maturities from 2009 through 2020.
The bonds (Aaa/AAA/AAA) are insured by Financial Security Assurance.
Citigroup Global Markets is the senior manager of the negotiated sale. Estrada Hinojosa & Co. and Merrill Lynch & Co. are co-managers.
Proceeds will be used to refund the city's outstanding $52.875 million series 2005 variable-rate revenue refunding bonds and to pay for improvements to the utility system.
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