Tarrant County Cultural Education Facilities, Texas, to sell $366.12 million bonds Tuesday

By Sheri Kasprzak

New York, Oct. 23 - The Tarrant County Cultural Education Facilities Finance Corp. in Texas plans to price $366.12 million in series 2008 Texas Health Resources System revenue bonds on Tuesday, according to a preliminary official statement.

The bonds (Aa3/VMIG1/AA-/A-1+/) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager for the series 2008A, 2008C and 2008F bonds and J.P. Morgan Securities Inc. as the senior manager for the series 2008B, 2008D, 2008E and 2008G bonds.

The 2008A bonds are due 2033 and reset at the weekly rate; the 2008B bonds are due 2033 and reset at the weekly rate; the 2008C bonds are due 2033 and reset at the daily rate; the 2008D bonds are due 2019 and reset at the daily rate; the 2008E bonds are due 2047 and reset at the weekly rate; the 2008F bonds are due 2033 and reset at the weekly rate; and the 2008G bonds are due 2033 and reset at the daily rate.

Proceeds will be used for construction, renovations and rehabilitation at Texas Health Resources.

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