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Houston arranges $140 million sale of utility system bonds
By Sheri Kasprzak
New York, Aug. 13 - The City of Houston plans to price $140 million of series 2012D combined utility system revenue refunding bonds, according to a preliminary official statement.
The bonds (/AA/AA-) will be sold on a negotiated basis with Cabrera Capital Markets LLC, Goldman Sachs & Co. and Raymond James/Morgan Keegan as the senior managers. The co-manager is Citigroup Global Markets Inc.
The maturities have not been set.
Proceeds will be used to construct, equip and repair portions of the city's utility system, as well as to refund all or a portion of the city's series B commercial paper notes.
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