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Texas Transportation Commission preps $900 million G.O. bond offering
By Sheri Kasprzak
New York, June 10 – The Texas Transportation Commission is set to price $900 million of series 2014 general obligation mobility fund refunding bonds, according to a preliminary official statement.
The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager. The co-managers are Barclays, Morgan Stanley & Co. LLC, Piper Jaffray & Co., Ramirez & Co. Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.
The bonds are due 2016 to 2034.
Proceeds will be used to finance the costs of constructing, expanding and improving state highways, as well as to refund existing parity bonds.
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