Texas to price $225 million G.O. and refunding bonds Wednesday

By Cristal Cody

Springdale, Ark., July 15 - The Texas Public Finance Authority plans to price its previously announced $225 million general obligation and refunding bonds on Wednesday, a source told Prospect News.

The series 2008A bonds (Aa1/AA/AA+) have serial maturities from Oct. 1, 2008 through Oct. 1, 2028.

Piper Jaffray & Co. is the senior manager of the negotiated sale.

Co-managers are Estrada Hinojosa & Co., Morgan Stanley, JPMorgan, RBC Capital Markets, Merrill Lynch & Co., Siebert Brandford Shank & Co., Morgan Keegan & Co. and Stone & Youngberg.

Proceeds will be used to refund the 2009 through 2015 maturities from the authority's series 1998B general obligation bonds and to finance construction, renovations and land acquisitions for the state criminal justice and public safety departments.

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