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Learn about Transmission Services Corporation, including Featured News and Executive Team.
This is the investor website for the Lower Colorado River Authority (LCRA). For bondholder convenience, we have created separate sites for two different debt programs: the Lower Colorado River Authority debt program and the LCRA Transmission Services Corporation debt program. Please use the drop-down menu for details for each debt program.
LCRA TSC is a nonprofit corporation created by LCRA to act on LCRA's behalf pursuant to Chapter 152, Texas Water Code, as amended, to conduct LCRA's electric transmission business. On Jan. 1, 2002, LCRA transferred ownership of its transmission facilities to LCRA TSC to satisfy the state’s requirements.LCRA TSC owns and operates all of the electric transmission and transformation assets previously owned by LCRA as well as transmission and transformation assets constructed and financed by LCRA TSC or acquired by LCRA TSC with other available funds. LCRA personnel, including primarily those that operate LCRA's transmission department, are responsible for performing all of LCRA TSC's activities pursuant to a services agreement between LCRA TSC and LCRA. Since its creation, LCRA TSC has invested more than $2.4 billion in transmission projects to meet the growing demand for electricity, improve reliability, connect new generating capacity, address congestion problems that affect the competitive market and help move renewable energy to the market. LCRA TSC plans to invest about $1.2 billion over the next five years to build new transmission facilities and improve existing ones.
On January 20, 2021, the Board of Directors of the LCRA Transmission Services Corporation (the “Corporation”) and the Board of Directors of the Lower Colorado River Authority (“LCRA”) adopted resolutions delegating the authority to an authorized representative of LCRA to approve the issuance of one or more series of bonds as Transmission Contract Debt (as defined below) in a maximum aggregate principal amount not to exceed $600 million for the purposes of (i) refunding certain outstanding Transmission Contract Debt, (ii) funding a debt service reserve fund for such any such bonds and/or (iii) paying costs of issuance for any such bonds.
LCRA currently contemplates utilizing such authority to price one series of fixed rate bonds (the “Proposed Bonds”) up to the maximum authorized principal amount of $600 million in February 2021* through a negotiated sale to a syndicate of underwriters led by BofA Securities, Inc. as senior manager.
S&P Global Ratings said today that the Lower Colorado River Authority, Texas (LCRA) and affiliate Transmission Services Corp.'s (TSCorp.) (A/Stable) robust liquidity, strong margins, and flexible capital plan position the authority well for
evolving events related to the COVID-19 pandemic.
See Attached Bond Buyer Article dated 9/30/2019