Harris County Metropolitan Transit, Texas, plans $124.6 million bonds

By Sheri Kasprzak

New York, April 6 – The Metropolitan Transit Authority of Harris County, Texas, is set to price $124,635,000 of series 2016 sales and use tax bonds and obligations, according to a preliminary official statement.

The offering includes $92.27 million of series 2016A refunding bonds and $32,365,000 of series 2016B refunding contractual obligations.

The bonds (Aa2/AA+) will be sold on a negotiated basis with Cabrera Capital Markets LLC as the lead manager. The co-managers are Citigroup Global Markets Inc. and Crews & Associates.

The 2016A bonds are due 2020 to 2029, and the 2016B obligations are due 2020 to 2033.

Proceeds will be used to refund the authority’s series 2009A sales and use tax bonds, series 2011A sales and use tax bonds and series 2009B contractual obligations.

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