Texas expects to price $185.44 million water financial assistance G.O. bonds Tuesday

By Sheri Kasprzak

New York, April 16 - The State of Texas is expected to sell $185.44 million in series 2010 general obligation bonds on Tuesday, according to a sales calendar.

The 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 Barclays Capital Inc. The co-managers are Frost Bank, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., Raymond James & Associates Inc. and Sterne, Agee & Leach Inc.

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

The state plans to use the proceeds to fund water development projects and to refund debt.

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