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Municipal Gas Authority of Georgia to sell $111 million revenue bonds
By Sheri Kasprzak
New York, Sept. 12 - The Municipal Gas Authority of Georgia is set to sell $111 million of gas portfolio III gas revenue bonds, according to a preliminary official statement.
The bonds (A1/MIG 1/AA-/SP-1+/A-/F1+) will be sold on a negotiated basis. J.P. Morgan Securities LLC is the underwriter for the series Q, series S and series T bonds. Wells Fargo Securities LLC is the underwriter for the series R bonds.
The offering includes $13 million of series Q bonds, $56 million of series R refunding bonds, $27 million of series S refunding bonds and $15 million of series T taxable bonds.
The Q bonds are due 2021 to 2022, and the series R bonds are due in 2013. The series S bonds are due 2022 to 2027, and the series T bonds are due in 2020.
Proceeds will be used to finance the acquisition of a gas supply and renovations to the gas portfolio III, as well as to refund the authority's series O and series P bonds.
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