Texas coordinates $149.63 million of water financial assistance G.O.s

By Sheri Kasprzak

New York, June 20 – The State of Texas is set to price $149,625,000 of series 2016 water financial assistance general obligation bonds, according to a preliminary official statement.

The deal includes $107.28 million of series 2016B water financial assistance and refunding bonds, which are comprised of $58.75 million of series 2016B-1 bonds, $29.58 million of series 2016B-2 bonds and $18.95 million of series 2016B-3 taxable bonds; $30.53 million of series 2016C refunding bonds, comprised of $29.22 million of series 2016C-1 bonds and $1.31 million of series 2016C-2 taxable bonds; and $11,815,000 of series 2016D refunding bonds.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Coastal Securities Inc., Frost Bank, Goldman, Sachs & Co. and Stifel, Nicolaus & Co. Inc.

The 2016B-1 bonds are due 2017 to 2045, the 2016B-2 bonds are due July 31, 2019, and the 2016B-3 bonds are due 2017 to 2027. The 2016C-1 bonds are due 2017 to 2025, and the 2016C-2 bonds are due 2017 to 2025. The 2016D bonds are due 2023 to 2035.

Proceeds will be used to finance loans to qualified government entities for water projects, as well as to refund existing debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.