Texas Transportation Commission to sell $615 million highway bonds

By Sheri Kasprzak

New York, April 11 – The Texas Transportation Commission is expected to price $615 million of series 2016 state highway improvement general obligation bonds, according to a preliminary official statement.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager.

The co-managers are Goldman Sachs & Co., Blaylock Beal Van LLC, Frost Bank, Jefferies & Co., Mesirow Financial Inc., Ramirez & Co. Inc. and Wells Fargo Securities LLC.

The bonds are due 2017 to 2036 with term bonds due in 2041 and 2046.

Proceeds will be used to pay for or reimburse the state for highway capital projects.

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