Houston to sell $490.81 million public improvement bonds Wednesday

By Sheri Kasprzak

New York, July 23 - The City of Houston is expected to sell $490.81 million of series 2009 public improvement refunding bonds on Wednesday, said a calendar of sales.

The sale includes series 2009A public improvement refunding bonds and series 2009B public improvement taxable refunding Build America Bonds, but the exact breakdown was unavailable Thursday.

The bonds (Aa3/AA/) will be sold through lead manager Loop Capital Markets LLC. The co-managers are Morgan Stanley & Co. Inc., RBC Capital Markets Corp., Southwest Securities Inc., Barclays Capital Markets Inc., Fidelity Capital Markets, Jefferies & Co., Samuel A. Ramirez & Co., Siebert Brandford Shank & Co. LLC and Goldman, Sachs & Co.

The maturities have not been set.

Proceeds will be used to refund commercial paper notes and existing public improvement bonds.

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