Texas intends to price $185.44 million general obligation bonds

By Sheri Kasprzak

New York, April 12 - The State of Texas is expected to price $185.44 million in series 2010 general obligation bonds, according to a preliminary official statement.

The bond offering includes $143.745 million in series 2010B water financial assistance bonds and $41.695 million in series 2010C water financial assistance bonds.

The bonds (Aa1/AA+/AAA) will be sold through senior manager Barclays Capital Inc. The co-managers include Frost Bank, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Sterne, Agee & Leach Inc.

The 2010B bonds are due 2011 to 2030, and the 2010C bonds are due 2010 to 2030.

Proceeds will be used to fund water development projects, as well as to refund existing debt.

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