Texas Transportation readies $800 million sale of state highway bonds

By Sheri Kasprzak

New York, June 23 – The Texas Transportation Commission is set to price $800 million of series 2015 state highway fund first tier revenue refunding bonds, according to a preliminary official statement.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with Citigroup Global Markets Inc. and BofA Merrill Lynch as the senior managers. The co-managers are Barclays, Blaylock Beal Van LLC, Frost Bank, Mesirow Financial Inc., Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and RBC Capital Markets LLC.

The bonds are due 2017 to 2026.

Proceeds will be used to refund existing revenue bonds.

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