Lower Colorado River Authority, Texas, to sell $210 million electric refunding and improvement bonds

By Cristal Cody

Springdale, Ark., April 30 - The Lower Colorado River Authority in Texas expects to price $210 million electric refunding and improvement revenue bonds on May 13, the issuer said Wednesday.

The series 2008 bonds (A1) will be sold in a negotiated sale with Morgan Stanley as the senior bookrunner, said Janet Holland, funds manager.

A preliminary official statement is expected to be released on May 5, she said.

Proceeds will be used to refund a portion of the authority's outstanding series A tax-exempt commercial paper notes.

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