Upgraded MEAG Prices $77M, With Eye On Restructuring $400M in 2005

Sigo, Shelly
December 2004
Bond Buyer;12/22/2004, Vol. 350 Issue 32035, p36
Trade Publication
The article reports that the Municipal Electric Authority of Georgia (MEAG) power company has priced $77 million of series 2005A subordinate-lien bonds toward restructuring close to $400 million in debt in the coming year. Citigroup Global Markets Inc., was lead underwriter on the negotiated sale of $67.7 million of federally taxable current interest rate bonds and $8.9 million of tax-exempt capital appreciation bonds. Jim Fuller, the chief financial officer for MEAG, said that pricing followed an intensive process in which the authority's 49 members reaffirmed their contracts to buy power from MEAG for another 50 years.


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