New Issue: Austin, Texas, sells $90.52 million public improvement refunding bonds

By Sheri Kasprzak

New York, Oct. 14 - The City of Austin, Texas, priced $90.515 million of series 2011A public improvement refunding bonds, according to a pricing sheet.

The bonds (Aaa/AAA/AAA) were sold through Ramirez & Co. Inc. The co-managers were Barclays Capital Inc., Citigroup Global Markets Inc., Cabrera Capital Markets LLC, Morgan Keegan & Co. Inc., Morgan Stanley & Co. LLC, Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Southwest Securities Inc.

The bonds are due 2012 to 2023 with 2% to 5% coupons.

Proceeds will be used to refund the city's series 2001 and 2002 public improvement bonds.

Issuer:	City of Austin
Issue:	Series 2011A public improvement refunding bonds
Amount:	$90.515 million
Type:	Negotiated
Underwriters:	Ramirez & Co. Inc. (lead), Barclays Capital Inc., Citigroup Global Markets Inc., Cabrera Capital Markets LLC, Morgan Keegan & Co. Inc., Morgan Stanley & Co. LLC, Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Southwest Securities Inc. (co-managers)
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Pricing date:	Oct. 14
Settlement date:	Nov. 2
Maturity	Type	Coupon	Price
2012	Serial	2%	NRO
2013	Serial	4%	106.276
2014	Serial	4%	108.937
2015	Serial	4%	110.569
2016	Serial	4.25%	112.517
2017	Serial	5%	117.452
2018	Serial	4%	111.961
2019	Serial	4%	111.206
2020	Serial	4.5%	114.392
2021	Serial	4%	110.428
2022	Serial	5%	118.679
2023	Serial	5%	118.475

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