Charleston, S.C. to price $134.7 million refunding, revenue bonds

By Sheri Kasprzak

New York, Nov. 24 - The City of Charleston, S.C., is set to price $134.7 million of series 2010 waterworks and sewer system refunding and capital improvement revenue bonds, according to a preliminary official statement.

The bonds (Aa1/AAA/AA+) will be sold on a negotiated basis with Wells Fargo Securities LLC as the senior manager. The co-managers are Bank of America Merrill Lynch and Rice Financial Products Co.

The bonds are due 2012 to 2030 with term bonds due 2035 and 2041.

Proceeds will be used to finance new and replacement infrastructure at the water distribution and wastewater collection system, as well as improvements at the Hanahan Water Treatment Plant and the Plum Island Wastewater Treatment Plant. The rest will be used to refund existing debt.

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