Houston Community College in Texas to sell $56.355 million revenue bonds

By Cristal Cody

Springdale, Ark., April 10 - The Houston Community College System in Harris and Fort Bend counties, Texas, plans to price $56.355 million senior-lien student fee revenue bonds, according to a preliminary official statement.

The series 2008 bonds have serial maturities from 2009 through 2030. The maturities in 2019 and after are subject to redemption on April 19, 2018.

Siebert Brandford Shank & Co. is the senior manager of the negotiated sale. Co-managers are Merrill Lynch & Co., Banc of America Securities LLC and J.P. Morgan Securities Inc.

Proceeds will be used to acquire facilities currently leased by the system, to pay for the construction and renovation of the Southeast Workforce Building, to renovate other college facilities and to provide funds sufficient to capitalize on one year's interest payment.

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