Lower Colorado River Authority, Texas, to sell $372.51 million bonds

By Sheri Kasprzak

New York, Oct. 18 - The Lower Colorado River Authority plans to bring to market $372.51 million in series 2010 refunding revenue bonds, according to a preliminary official statement.

The offering includes $242.785 million in series 2010A bonds and $129.725 million in series 2010B bonds.

The 2010A bonds are due 2012 to 2030. The 2010B bonds are due 2011 to 2024.

The bonds (A1/A/A+) will be sold through senior manager Goldman Sachs & Co. with Barclays Capital Inc., Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. as the co-senior managers. The co-managers are Citigroup Global Markets Inc., First Southwest Co., J.P. Morgan Securities LLC, Morgan Keegan & Co. Inc., Ramirez & Co. Inc., RBC Capital Markets Corp., Rice Financial Products Co., Southwest Securities Inc. and Wells Fargo Securities LLC.

Proceeds will be used to refund the authority's existing series A commercial paper notes and refund its parity debt, as well as to make a deposit to a debt service reserve fund.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.