City of Phoenix to Issue $238.8 Million in Bonds for Infrastructure, Other Projects

By Paulo Trevisani

The City of Phoenix plans to issue $238.8 million in two series of bonds to cover part of the costs of various infrastructure and other projects.

The series A bonds totaling $133.6 million will be tax-exempt, while the $105.2 million in series B bonds will be taxable, according to a preliminary statement published Tuesday on MuniOs.

The proceeds from both series will be used for capital improvements. Listed projects include improving infrastructure and building libraries and affordable housing.

Maturities will be as long as 2047 for the series A bonds and 2032 on series B. Pricing information wasn't provided.

The bonds are backed by tax payments.

Moody's Ratings has assigned Aa1 rating to the bonds. S&P Global Ratings rated them AA+, and Fitch assigned AAA.

Piper Sandler is the lead underwriter.

Write to Paulo Trevisani at [e-mail]

(END) Dow Jones Newswires

07-03-24 1331ET