Texas Muni Gas readies $1 billion offering of revenue bonds

By Sheri Kasprzak

New York, Nov. 19 - The Texas Municipal Gas Acquisition and Supply Corp. III is ready to price $1 billion of series 2012 gas supply revenue bonds during the week of Nov. 19, according to a preliminary official statement.

The bonds (A3/BBB/) will be sold on a negotiated basis with J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Citigroup Global Markets Inc. as the lead managers. The co-manager is Wells Fargo Securities LLC.

The maturities have not been set.

Proceeds will be used to prepay a 20-year natural gas supply agreement with Macquarie US Gas Supply LLC.

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