Texas plans to sell $162.79 million in general obligation bonds May 5

By Sheri Kasprzak

New York, April 28 - The state of Texas is expected to sell $162.79 million in series 2009B water financial assistance general obligation bonds, according to a preliminary official statement. The offering is set to price May 5, said a sellside source connected to the deal.

The bonds (Aa1/AA/AA+) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager. The co-managers are Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Ramirez & Co. Inc.; RBC Capital Markets Inc.; Southwest Securities Inc.; and Walton Johnson & Co.

The bonds are due 2010 to 2029.

Proceeds will be used to construct dams, water storage facilities and other water projects.

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