Texas to sell $57.08 million of water financial assistance G.O. bonds

By Sheri Kasprzak

New York, Jan. 5 - The State of Texas is set to bring to market $57,075,000 of series 2012 water financial assistance general obligation bonds, according to a preliminary official statement.

The deal includes $42,825,000 of series 2012A water infrastructure bonds and $14.25 million of series 2012B economically distressed areas program bonds.

The 2012A bonds are due 2012 to 2031, and the 2012B bonds are due 2012 to 2031.

The bonds (Aaa/AA+/AAA) will be sold on a negotiated basis with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as the senior managers. The co-managers are Frost Bank, M.R. Beal & Co. and Samco Capital Markets Inc.

Proceeds will be used to fund water assistance projects at qualified political subdivisions.

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