Lower Colorado River Authority, Texas, to sell $200 million bonds Thursday

By Sheri Kasprzak

New York, April 23 - The Lower Colorado River Authority of Texas is expected to sell $200 million in series 2010 transmission contract refunding and improvement revenue bonds Thursday, according to a calendar of upcoming sales.

The bonds (A2/A/A+) will be sold through Morgan Stanley & Co. Inc. 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 Inc.; and Wells Fargo Securities Inc.

The bonds 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 refund existing tax-exempt transmission contract revenue notes.

Based in Austin, the authority operates electric power generation facilities.

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