Oklahoma Water Resources plans $76.65 million of revolving fund bonds

By Sheri Kasprzak

New York, Aug. 9 - The Oklahoma Water Resources Board plans to price $76,645,000 of series 2013 revolving fund revenue bonds, according to a preliminary official statement.

The offering includes $41.07 million of series 2013A revolving fund revenue bonds and $35,575,000 of series 2013B taxable revolving fund revenue refunding bonds.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager. The co-managers are BOSC Inc., J.P. Morgan Securities LLC and Wells Nelson & Associates LLC.

The 2013A bonds are due 2015 to 2043 and the 2013B bonds are due 2014 to 2025.

Proceeds will be used to make subsidized loans to qualified local government entities for water development projects, as well as to refund the board's series 2003 revolving fund revenue bonds.

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