Texas Transportation Commission preps $939.27 million G.O. bond deal

By Sheri Kasprzak

New York, Nov. 27 - The Texas Transportation Commission is set to price $939.27 million of series 2012 highway improvement general obligation bonds, according to a preliminary official statement.

The deal includes $839.27 million of series 2012A tax-exempt G.O. bonds and $100 million of series 2012B taxable G.O. bonds.

The bonds (Aaa/AA+/AAA) will be sold through senior managers Wells Fargo Securities LLC and Bank of America Merrill Lynch. The co-managers are Barclays, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Loop Capital Markets LLC, Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC.

The 2012A bonds are due 2019 to 2042. The 2012B bonds are due 2014 to 2019.

Proceeds will be used to finance or reimburse the commission for the costs of highway improvements.

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