Houston to price $250 million public improvement refunding bonds

By Sheri Kasprzak

New York, Sept. 27 - The City of Houston is set to price $250 million of series 2011 public improvement refunding bonds, according to a preliminary official statement.

The offering includes $175 million of series 2011A public improvement refunding bonds and $75 million of series 2011B taxable public improvement refunding bonds.

The bonds (Aa2/AA/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Citigroup Global Markets Inc., Rice Financial Products Co. and Samco Capital Markets Inc.

The maturities have not been set.

Proceeds will be used to refund some of the city's outstanding public improvement bonds.

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