New Issue: Texas brings $133.5 million of water financial assistance G.O. bonds

By Sheri Kasprzak

New York, May 17 - The State of Texas priced $133.5 million of series 2011A water financial assistance general obligation bonds, said a pricing sheet.

The bonds (Aaa/AA+/AAA) were sold through Jefferies & Co. with Bank of America Merrill Lynch, Citigroup Global Markets Inc., Coastal Securities Inc., Ramirez & Co. Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. LLC as the co-managers.

The bonds are due 2011 to 2030 with coupons of 1% to 5%.

Proceeds will be used to provide financial assistance to political subdivisions for water infrastructure requirements.

Issuer:	State of Texas
Issue:	Series 2011A water financial assistance general obligation bonds
Amount:	$133.5 million
Type:	Negotiated
Underwriters:	Jefferies & Co. (lead); Bank of America Merrill Lynch, Citigroup Global Markets Inc., Coastal Securities Inc., Ramirez & Co. Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. LLC (co-managers)
Ratings:	Moody's: Aaa
	Standard & Poor's: AA+
	Fitch: AAA
Pricing date:	May 17
Settlement date:	June 14
Maturity	Type	Coupon
2011	Serial	1%
2012	Serial	1%
2013	Serial	2%
2013	Serial	4%
2014	Serial	2%
2014	Serial	4%
2015	Serial	2.5%
2015	Serial	4%
2016	Serial	3%
2016	Serial	4%
2017	Serial	3%
2017	Serial	5%
2018	Serial	4%
2018	Serial	5%
2019	Serial	5%
2020	Serial	5%
2021	Serial	5%
2022	Serial	5%
2023	Serial	5%
2024	Serial	5%
2025	Serial	5%
2026	Serial	5%
2027	Serial	5%
2028	Serial	5%
2029	Serial	5%
2030	Serial	4%
2030	Serial	5%

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