Texas to price $325.73 million in general obligation bonds on June 9

By Sheri Kasprzak

New York, May 29 - The state of Texas is scheduled to sell $325.725 million in series 2009 general obligation bonds on June 9, according to a preliminary official statement.

The sale includes $276.91 million in series 2009C water financial assistance and refunding bonds and $48.815 million in series 2009D water financial assistance and refunding bonds.

The 2009C bonds are due 2010 to 2029 with term bonds due 2034 and 2039. The 2009D bonds are due 2020 to 2029 with a term bond due 2035.

The bonds (Aa1/AA/AA+) will be sold through lead managers J.P. Morgan Securities Inc. and RBC Capital Markets Inc. The co-managers are Barclays Capital Inc.; M.R. Beal & Co.; Coastal Securities Inc.; Sterne, Agee & Leach Inc.; Fidelity Capital Markets Inc.; Frost Bank; and Samco Capital Markets Inc.

Proceeds will be used to refund the state's series 1999A and 1999C.

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