Houston plans $249.08 million sale of utility system refunding bonds

By Sheri Kasprzak

New York, July 26 - The City of Houston plans to price $249,075,000 of series 2012C first-lien refunding revenue Sifma index floating-rate bonds, according to a preliminary official statement.

The bonds (/AA/AA-) will be sold on a negotiated basis with RBC Capital Markets LLC as the senior manager.

The bonds are due May 15, 2034 and feature an initial Sifma tender date of Aug. 1, 2016 and an initial optional Sifma call date of Feb. 1, 2016.

Proceeds will be used to refund the city's series 2010B combined utility system first-lien revenue bonds.

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