Tarrant Regional water, Texas, to sell $77.25 million bonds Wednesday

By Sheri Kasprzak

New York, Feb. 6 - The Tarrant Regional Water District of Texas is set to price $77.25 million in series 2009 water refunding and improvement bonds on Wednesday, according to a calendar of upcoming deals.

The bonds (A1/AAA/AA) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Frost Bank as the lead managers. The co-managers for the deal are Barclays Capital Inc., Morgan Keegan & Co. Inc. and Capital West Securities Inc.

The bonds are due 2011 to 2029, and proceeds will be used for major repairs to the district's water and wastewater system. The remainder will be used to refund the district's series 1999 bonds.

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