Dallas plans $529.9 million G.O. refunding, improvement bonds

By Sheri Kasprzak

New York, Nov. 25 – The City of Dallas is set to price $529,905,000 of series 2014 general obligation refunding and improvement bonds, said a preliminary official statement.

The bonds (Aa1/AA+/) will be sold on a negotiated basis with Wells Fargo Securities LLC as the senior manager. The co-senior managers are Loop Capital Markets LLC and Stern Brothers & Co. with Citigroup Global Markets Inc., Frost Bank, Goldman Sachs & Co., Piper Jaffray & Co., Ramirez & Co. Inc. and Stifel, Nicolaus & Co. Inc. as co-managers.

The bonds are due 2015 to 2034.

Proceeds will be used to finance capital improvements, including street and transportation improvements, flood protection and storm drainage facilities, library facilities and city hall improvements, as well as to refund commercial paper notes and the city’s series 2005 G.O. refunding bonds, series 2007A G.O. refunding and improvement bonds and series 2008 G.O. bonds.

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