Совет Аустина одобрил выпуск облигаций на 648,4 млн долларов для финансирования инфраструктурных проектов

Austin, Texas, expects to bring a competitive issue to market in September after the city council on Thursday approved up to $648.4 million of property tax-backed debt. The offering comes after Moody's Ratings in July Austin has triple-A GO ratings from S&P Global Ratings and Fitch Ratings, which restored its rating to AAA in September, following a downgrade to AA-plus in 2021. These two rating agencies are expected to rate the upcoming issue, according to a draft preliminary official statement for a Sept. 22 sale. It shows $289.37 million of public improvement and refunding bonds, $133.24 million of certificates of obligation, $67.34 of taxable public improvement bonds, and $13.52 million of taxable certificates of obligation structured with serial maturities from 2027 through 2046. Public property finance contractual obligations totaling $80.34 million have maturities from 2027 through 2033. An up to $101.6 million refunding component for debt service savings involves bonds and certificates of obligation sold in 2012 and 2016, according to a city memo. New money debt will finance various capital projects, as well as vehicles and equipment. PFM Financial Advisors is the municipal advisor, while McCall, Parkhurst & Horton is bond counsel and Orrick, Herrington & Sutcliffe is disclosure counsel. Texas' capital city's last property tax-backed issue sold competitively was a $318.6 million offering in 2021, according to deal information Earlier this month, the city council An April forecast indicated a