Odessa, Texas, organizes $55 million certificates obligation offering

By Sheri Kasprzak

New York, Aug. 22 - The City of Odessa, Texas, is expected to price $55 million of series 2013 combination tax and revenue certificates of obligation, according to a preliminary official statement.

The certificates (Aa2/AA/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are BofA Merrill Lynch, Stephens Inc. and Wells Fargo Securities LLC.

The certificates are due 2014 to 2033.

Proceeds will be used to construct improvements to the city's parks, drainage improvements and paving, curb and gutter improvements, as well as street improvements.

© 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.