Austin, Texas, prepares $278.52 million of water and wastewater bonds

By Sheri Kasprzak

New York, June 2 - The City of Austin, Texas, is slated to price $278,515,000 of series 2014 water and wastewater system revenue refunding bonds on Wednesday, the issuer said in a preliminary official statement.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis with Barclays as the lead manager. The co-managers are Citigroup Global Markets Inc., Edward D. Jones & Co. LP, Robert W. Baird & Co., Comerica Securities, BOSC Inc., Fidelity Capital Markets LLC, Cabrera Capital Markets and Rice Financial Products Co.

The bonds are due 2019 to 2043.

Proceeds will be used to refund the city's series 1998A and 2005A water and wastewater system revenue bonds.

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