Texas to sell $152.73 million of student loan G.O. bonds

By Sheri Kasprzak

New York, June 16 - The State of Texas is set to sell $152.73 million of series 2011 college student loan general obligation bonds, according to a preliminary official statement.

The bonds (Aaa/AA+/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Bank of America Merrill Lynch, Southwest Securities Inc. and Wells Fargo Securities LLC.

The offering includes $125 million of series 2011A G.O. bonds and $27.73 million of series 2011B G.O. refunding bonds.

The maturities have not been set.

Proceeds will be used to fund student loans, as well as to refund the state's series 2002 college student loan G.O. bonds.

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