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Texas Transportation to price $1.11 billion bonds, BABs on Wednesday
By Sheri Kasprzak
New York, Aug. 13 - The Texas Transportation Commission plans to sell $1,112,235,000 in series 2009 mobility fund bonds and Build America Bonds on Wednesday, according to a preliminary official statement.
The sale includes series 2009A taxable Build America Bonds and series 2009B mobility fund bonds, but the exact breakdown has not yet been determined.
The bonds (Aa1/AA+/AA+) will be sold on a negotiated basis with Merrill Lynch & Co. Inc. as the senior manager. The co-managers are Estrada Hinojosa & Co., First Southwest Co., Jefferies & Co., J.P. Morgan Securities Inc., Loop Capital Markets LLC, Morgan Stanley & Co. Inc., Piper Jaffray & Co., Southwest Securities Inc. and Wachovia Bank N.A.
The maturities have not been set.
Proceeds will be used construct, acquire, improve and expand state highways.
The Texas Transportation Commission is based in Austin, Texas.
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