Texas to sell $152.96 million water general obligation bonds

By Sheri Kasprzak

New York, Jan. 22 - The state of Texas is planning to sell $152.96 million in series 2009-A general obligation water financial assistance bonds, according to a preliminary official statement released Thursday evening.

The bonds (Aa1/AA/AA+) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager.

The co-managers are Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities Inc.; Loop Capital Markets LLC; Ramirez & Co.; RBC Capital Markets Corp.; Southwest Securities Inc.; and Walton Johnson & Co.

The bonds are due 2009 to 2029 with a term bond. The maturity has not yet been determined for the term bond.

Proceeds will be used to provide financial assistance to municipalities for water projects.

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