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Austin, Texas, preps $335.89 million water and wastewater bond sale
By Sheri Kasprzak
New York, July 5 - The City of Austin, Texas, is expected to come to market with $335,885,000 of series 2012 water and wastewater system revenue refunding bonds, according to a preliminary official statement.
The bonds (Aa2/AA/AA-) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager. The co-managers are Bank of America Merrill Lynch, Estrada Hinojosa & Co. Inc., First Southwest Co., J.P. Morgan Securities LLC, Ramirez & Co. Inc. and RBC Capital Markets LLC.
The bonds are due 2013 to 2042.
Proceeds will be used to refund existing commercial paper and refund the city's series 2004 revenue bonds, as well as terminate a swap agreement connected to those bonds.
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