State Building Authority, Mich., to price $990 million revenue bonds

By Sheri Kasprzak

New York, July 20 – The State Building Authority of Michigan is set to price $990 million of series 2015-I facilities program revenue and revenue refunding bonds, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as the lead managers. The co-managers are BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman, Sachs & Co., Barclays, Drexel Hamilton LLC and Loop Capital Markets LLC.

The bonds are due 2015 and 2019 to 2035 with term bonds due in 2040, 2045 and 2050.

Proceeds will be used to refund the authority’s series 2005, 2006 and 2008 revenue and refunding bonds.

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