Texas Transportation Commission to price $150 million bonds

By Cristal Cody

Tupelo, Miss., Feb. 17 - The Texas Transportation Commission expects to price $150 million in first tier revenue refunding put bonds between Feb. 24 and Feb. 26, a source told Prospect News Tuesday.

The series 2009 bonds (Baa1/BBB+/BBB+) are due in 2042 with a mandatory tender date on Feb. 15, 2011, according to the preliminary official statement.

Citigroup Global Markets Inc. is the senior manager of the negotiated sale. Estrada Hinojosa & Co. and Southwest Securities Inc. are the co-managers.

The proceeds will be used to refund the commission's series 2002B bonds.

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