By Sheri Kasprzak
New York, June 24 - The Texas Water Development Board priced $258 million in series 2008B state revolving fund subordinate-lien revenue bonds, said Sandy Simon, finance director for the board.
The bonds (Aaa//AAA) priced with a 4.91% true interest cost, Simon said, but the terms were still being finalized Tuesday afternoon.
The bonds were sold on a negotiated basis with Morgan Keegan as the senior manager.
Proceeds will be used to originate loans to borrowers under the state's Clean Water State Revolving Fund Program.
| Issuer: | Texas Water Development Board
|
| Issue: | Series 2008B state revolving fund subordinate-lien revenue bonds
|
| Amount: | $258 million
|
| Type: | Negotiated
|
| TIC: | 4.91%
|
| Underwriter: | Morgan Keegan
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Pricing date: | June 24
|
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