Texas Higher Education Coordinating Board's $102.435 million G.O. bond sale put on rolling sale period

By Cristal Cody

Springdale, Ark., May 29 - The Texas Higher Education Coordinating Board postponed the competitive sale Thursday of $102.435 million general obligation bonds, a source connected to the deal told Prospect News.

The $74.39 million series 2008A college student loan bonds and $28.045 million series 2008B college student loan refunding bonds were pulled and put on a day-to-day notice, the source said.

The short market week made it difficult to get the best bids, the source said.

The bonds (Aa1/AA/) may be sold on a day between May 28 and June 10.

The series 2008A bonds have serial maturities from 2012 through 2032. The series 2008B bonds have maturities from 2014 through 2018.

First Southwest Co. is the state board's financial adviser.

Proceeds will be used to fund a student loan program and to refund the outstanding $26.82 million in Aug. 1, 2009 maturities from the series 1997, 1999, 2000 and 2002 student loan bonds.

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