Texas to price $5.5 billion in TRANs Tuesday in competitive offering

By Sheri Kasprzak

New York, Aug. 20 - Texas is gearing up to price $5.5 billion in series 2009 tax and revenue anticipation notes on Tuesday, according to a notice of sale released Thursday.

The notes (MIG1/SP-1+/F1+) will be sold on a competitive basis with RBC Capital Markets Inc. as the financial adviser.

The TRANs are due Aug. 31, 2010.

Proceeds will be used to fund general capital expenses ahead of the collection of certain taxes and revenues.

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