CHICAGO The Ohio Air Quality Development Authority today will vote on the sale of $241 million of pollution control revenue refunding bonds a transaction that will allow FirstEnergy Generation Corp. to exit the auction-rate securities market.

The deal comes a few months after several subsidiaries of FirstEnergy Corp. including FirstEnergy Generation Corp. voted to convert all $530 million of their outstanding auction-rate debt into fixed- or variable-rate debt. FirstEnergy, an Akron-based for-profit, includes seven utility subsidiaries as well as FirstEnergy Generation and FirstEnergy Nuclear Generation Corp., and is the fifth largest investor-owned utility in the U.S.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.