Plano, Texas, arranges $82.88 million G.O. and improvement bond deal

By Sheri Kasprzak

New York, May 11 – The City of Plano, Texas, is set to price $82.88 million of series 2015 general obligation refunding and improvement bonds and tax notes on Thursday, according to a preliminary official statement.

The bonds (Aaa//AAA) will be sold on a negotiated basis with Raymond James/Morgan Keegan and Hutchinson, Shockey, Erley & Co. as the lead managers and BOSC Inc. and Baird & Co. as the co-managers.

The offering includes $77.29 million of series 2015 G.O. refunding and improvement bonds and $5.59 million of series 2015 tax notes.

The 2015 G.O.s are due 2015 to 2035, and the tax notes are due 2015 to 2021.

Proceeds will be used to refund a portion of the city’s series 2005 G.O. refunding and improvement bonds, series 2006 and 2007 G.O.s and series 2006 combination tax and revenue certificates of obligation, as well as to fund public improvement projects like recreational facilities and streets.

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