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Lower Colorado River Authority, Texas, to price $200 million bonds
By Sheri Kasprzak
New York, April 22 - The Lower Colorado River Authority in Texas plans to sell $200 million in series 2010 transmission contract refunding and improvement revenue bonds, according to a preliminary official statement.
Morgan Stanley & Co. Inc. is the senior manager. The co-managers are Barclays Capital Inc.; Bank of America Merrill Lynch; Goldman Sachs & Co.; Citigroup Global Markets Inc.; FirstSouthwest Co.; J.P. Morgan Securities Inc.; Morgan Keegan & Co. Inc.; Ramirez & Co. Inc.; RBC Capital Markets Corp.; Rice Financial Products Co.; Southwest Securities; and Wells Fargo Securities Inc.
The bonds (A2/A/A+) are due 2012 to 2018 and 2021, with term bonds due 2025, 2030 and 2040.
Proceeds will be used to finance the construction, renovation and improvement of generation facilities, as well as to refund some of the authority's tax-exempt transmission contract revenue notes.
Based in Austin, Texas, the authority operates electric power generation facilities.
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