By Stephen Nakrosis
The City of Memphis, Tenn. plans to issue $91.75 million of general improvement refunding bonds.
Proceeds from the sale will be used to refund all or portions of general improvement bonds originally sold in 2012, and 2014 through 2016, according to a document posted Monday on MuniOS.
Initial pricing information on the bonds wasn't provided.
The bonds are backed by the full faith and credit of the city, which will levy and collect taxes sufficient to pay the interest and principal on the bond, according to the document.
Moody's Ratings has rated the bonds Aa2 with a stable outlook, and S&P Global Ratings has rated them AA with a negative outlook.
Siebert Williams Shank is lead manager on the transaction.
-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
07-15-24 1555ET
