Katy ISD, Texas, organizes $115 million sale of variable-rate bonds

By Sheri Kasprzak

New York, June 18 - The Katy Independent School District of Texas is expected to come to market with $115 million of series 2012C variable-rate refunding bonds, according to a preliminary official statement.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with Bank of America Merrill Lynch and Jefferies & Co. as the senior managers. The co-managers are Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Southwest Securities Inc. and Wells Fargo Securities LLC.

The bonds are due Aug. 15, 2036.

Proceeds will be used to refund the district's series 2004C variable-rate unlimited tax school building bonds.

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