Texas Public Finance prepares $700.2 million revenue bond offering

By Sheri Kasprzak

New York, April 10 - The Texas Public Finance Authority plans to sell $700,205,000 of series 2014 unemployment compensation obligation assessment revenue refunding bonds, according to a preliminary official statement.

The deal includes $533,525,000 of series 2014A bonds and $166.68 million of series 2014B bonds.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with BofA Merrill Lynch and Estrada Hinojosa & Co. Inc. as the senior managers. The co-managers are Citigroup Global Markets Inc.; Goldman, Sachs & Co.; Loop Capital Markets LLC; Morgan Stanley & Co. LLC; Raymond James/Morgan Keegan; RBC Capital Markets LLC; Siebert Brandford Shank & Co. LLC; and Wells Fargo Securities LLC.

The 2014A bonds are due 2015 to 2018. The 2014B bonds are due July 1, 2018.

Proceeds will be used to refund the authority's series 2010A-B revenue bonds.

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