Texas Tech University System plans $322 million revenue bond offering

By Sheri Kasprzak

New York, March 11 – The Texas Tech University System is expected to come to market with $322,005,000 of series 2015 revenue financing system bonds, according to preliminary official statements.

The offering includes $75,125,000 of 16th series 2015A refunding and improvement bonds and $246.88 million of 17th series 2015B taxable refunding and improvement bonds.

The bonds (/AA/AA+) will be sold on a negotiated basis. Citigroup Global Markets Inc. and RBC Capital Markets LLC are the senior managers for the 2015A bonds and J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC are the co-managers. Wells Fargo Securities LLC and Raymond James/Morgan Keegan are the senior managers for the 2015B bonds and Barclays and Estrada Hinojosa & Co. Inc. are the co-managers.

The 2015A bonds are due 2016 to 2035 and the 2015B bonds are due 2015 to 2030.

Proceeds will be used to finance the construction, equipment, acquisition and repair of university system buildings and roadways and to refund the system’s series 2003 improvement bonds and 2005 and 2006 revenue bonds.

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