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Houston to sell $800 million first-lien revenue and refunding bonds
By Cristal Cody
Tupelo, Miss., Feb. 2 – The City of Houston intends to price $800 million of series 2016B combined utility system first-lien revenue and refunding bonds (Aa2//AA), according to a preliminary official statement.
Wells Fargo Securities, LLC is the bookrunner for the negotiated sale.
Co-managers are Morgan Stanley & Co. LLC; RBC Capital Markets, LLC; Hutchinson, Shockey, Erley & Co.; Raymond James; and Williams Capital Group, LP.
Proceeds will be used to help pay the costs to construct, improve or repair the water and sewer system; refund all or a portion of outstanding series B combined utility system commercial paper notes; and refund a portion of outstanding combined utility system first-lien revenue bonds.
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