Texas Public Finance to sell $341.47 million G.O. refunding bonds

By Sheri Kasprzak

New York, June 15 - The Texas Public Finance Authority is expected to price $341.47 million in series 2010 general obligation refunding bonds, according to a preliminary official statement.

The offering includes $190.71 million in series 2010A bonds and $150.76 million in series 2010B bonds.

The bonds (Aaa/AA+/AAA) will be sold through senior manager Barclays Capital Inc.

The co-managers are Cabrera Capital Markets Inc.; Citigroup Global Markets Inc.; Jefferies & Co. Inc.; Ramirez & Co. Inc.; Loop Capital Markets LLC; Piper Jaffray & Co.; and Morgan Keegan & Co. Inc.

The 2010A bonds are due 2010 to 2029 with a term bond, the maturity date of which has not been set. The 2010B bonds are due 2010 to 2029 with a term bond, the maturity date of which has not been set.

Proceeds will be used to refund a portion of the authority's outstanding commercial paper notes and outstanding G.O. bonds.

The authority, based in Austin, Texas, was formerly known as the Texas Public Building Authority. The authority constructs or acquires state office buildings.

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