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Panhandle-Plains Higher Education, Texas, to sell $603.13 million
By Sheri Kasprzak
New York, Sept. 23 - The Panhandle-Plains Higher Education Authority of Texas is set to sell $603.13 million of series 2011-2 taxable Libor floating-rate student loan revenue bonds, said a preliminary official statement.
The bonds (/AA+/AAA) will be sold on a negotiated basis with Bank of America Merrill Lynch as the senior manager and Deutsche Bank Securities Inc. as the co-manager.
The offering is comprised of $359 million of series 2011-2-A1 bonds, $91 million of series 2011-2-A2 bonds and $153.13 million of series 2011-2-A3 bonds. The A1 bonds are due July 1, 2021, the A2 bonds are due Oct. 2, 2023, and the A3 bonds are due July 1, 2032.
Proceeds from the sale will be used to refund existing student loan revenue bonds.
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