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Houston organizes $332.5 million offering of public improvement bonds
By Sheri Kasprzak
New York, April 16 - The City of Houston is set to price $332.5 million of series 2013 public improvement bonds, according to a preliminary official statement.
The offering includes $250 million of series 2013A public improvement refunding bonds, $75 million of series 2013B taxable public improvement refunding bonds and $7.5 million of series 2013A demolition program certificates of obligation.
The bonds (/AA/AA) will be sold on a negotiated basis with Rice Financial Products Co. as the senior manager. The co-managers are Barclays, Wells Fargo Securities LLC and Backstrom McCarley Berry & Co. LLC.
The maturities have not been set.
Proceeds will be used to refund existing debt and to demolish dangerous structures in the city.
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