Austin, Texas, to sell $160 million revenue refunding bonds

By Sheri Kasprzak

New York, Nov. 26 - Austin, Texas, is expected to sell $160 million in series 2008A water and wastewater revenue refunding bonds, according to a preliminary official statement released Wednesday.

No official pricing date has been set for the sale, but the pricing could occur as early as Dec. 11, said Art Alfaro, the city's treasurer.

The bonds (Aa3/AA/AA-) will be sold on a negotiated basis with Merrill Lynch & Co. as the senior manager. The co-managers are Barclays Capital, Citigroup Global Markets, Morgan Stanley & Co. Inc., Morgan Keegan & Co., Southwest Securities Inc., Apex Pryor Securities, Cabrera Capital Markets and Estrada Hinojosa & Co.

The bonds are due 2011 to 2028.

Proceeds will be used to refund $150 million in outstanding tax-exempt commercial paper notes.

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