Lower Colorado River Authority, Texas, plans $231.49 million of bonds

By Sheri Kasprzak

New York, May 27 – The Lower Colorado River Authority of Texas is set to price $231,485,000 of series 2015 transmission contract revenue refunding bonds, according to a preliminary official statement.

The bonds (/A/A+) will be sold on a negotiated basis with BofA Merrill Lynch and Morgan Stanley & Co. LLC as the senior managers. The co-managers are Barclays, Citigroup Global Markets Inc., Rice Financial Products Co. and Wells Fargo Securities LLC.

The bonds are due 2016 to 2035 with term bonds due in 2040 and 2045.

Proceeds will be used to refund short-term contract transmission notes.

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