Texas to sell $137.08 million of water financial assistance G.O.s

By Sheri Kasprzak

New York, March 8 - The State of Texas plans to price $137,075,000 of series 2012C water financial assistance general obligation bonds, according to a preliminary official statement.

The bonds (Aaa/AA+/AAA) will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the lead manager. The co-managers are Bank of America Merrill Lynch, Estrada Hinojosa & Co. Inc., Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Southwest Securities Inc.

The bonds are due 2015 to 2032 with a term bond due in 2038.

Proceeds will be deposited into an account and distributed to political subdivisions as needed for water facilities projects.

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