Austin, Texas, to price $175 million revenue refunding bonds

By Cristal Cody

Springdale, Ark., July 18 - Austin, Texas, intends to price $175 million electric utility system revenue refunding bonds through a competitive sale on July 24, according to a sale notice.

The series 2008A bonds (Aaa/AAA/AAA) have serial maturities from 2010 through 2038.

The bonds are insured by Assured Guaranty Corp.

The PFM Group is the city's financial adviser.

Proceeds will be used to refund Austin's outstanding commercial paper, which will allow the city to restore the available capital under its commercial paper note program and sell additional notes.

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