Texas coordinates $90.93 million water financial assistance bond deal

By Sheri Kasprzak

New York, July 2 - The State of Texas plans to price $90.93 million of series 2013 water financial assistance general obligation bonds, according to a preliminary official statement.

The deal includes $57,615,000 of series 2013B G.O. bonds and $33,315,000 of series 2013C G.O. refunding bonds.

The bonds (Aaa/AA+/AAA) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager and Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc. and RBC Capital Markets LLC.

The 2013B bonds are due 2014 to 2033 with term bonds due in 2038 and 2040. The 2013C bonds are due 2014 to 2021.

Proceeds will be used to provide water improvement loans to local government entities and to refund existing water bonds.

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