Dallas preps $236.3 million sale of waterworks, sewer refunding bonds

By Sheri Kasprzak

New York, June 24 - The City of Dallas is set to price $236.3 million of series 2011 waterworks and sewer system revenue refunding bonds, said a preliminary official statement.

The bonds (Aa1/AAA) will be sold through senior managers J.P. Morgan Securities LLC and M.R. Beal & Co. Inc. The co-managers are Bank of America Merrill Lynch, Cabrera Capital Markets LLC, Morgan Stanley & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Southwest Securities Inc.

The bonds are due 2013 to 2040.

Proceeds will be used to refund $148 million of outstanding commercial paper notes, as well as refund other debt.

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