Houston, Texas, plans $530 million of utility system revenue bonds

By Sheri Kasprzak

New York, June 3 - The City of Houston, Texas, plans to price $530 million of series 2014D first-lien combined utility system revenue and refunding bonds, according to a preliminary official statement.

The bonds will be sold through Goldman, Sachs & Co. The co-managers are Citigroup Global Markets Inc., Piper Jaffray & Co., BofA Merrill Lynch, FTN Financial Capital Markets and Ramirez & Co. Inc.

The maturities have not been set.

Proceeds will be used to extend, improve and repair the city's utility system, as well as to refund all of the city's series B commercial paper notes and a portion of its water and sewer system revenue bonds.

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