Texas set to price $75 million in general obligation bonds Wednesday

By Sheri Kasprzak

New York, May 28 - The state of Texas is set to price $75 million in series 2009 college student loan general obligation bonds, according to a preliminary official statement. The sale is expected for Wednesday, according to a sales calendar.

The bonds (Aa1/AA/) will be sold on a negotiated basis with Wachovia Bank as the senior manager. The co-managers are Edward Jones & Co., Morgan Keegan & Co. Inc. and RBC Capital Markets Inc.

The bonds are due 2013 to 2030 with a term bond due 2033.

Proceeds will be used to make low-interest student loans for college students within the state.

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