Texas Transportation offers $750 million of G.O. refunding bonds

By Sheri Kasprzak

New York, Sept. 9 – The Texas Transportation Commission is expected to price $750 million of series 2015A mobility fund general obligation refunding bonds, according to a preliminary official statement.

The bonds (Aaa//AAA) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Piper Jaffray & Co. as the senior managers. The co-managers are Frost Bank, Goldman Sachs & Co., Jefferies & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan, Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.

The bonds are due 2016 to 2036.

Proceeds will be used to refund existing bonds for debt service savings.

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