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Issuer Type: Power/Gas
Transmission Contract Refunding Revenue Bonds
Thank you for your interest in LCRA TSC. Investments in our bond program help build and maintain critical public infrastructure that provides safe and reliable transmission services to communities throughout Texas. We are committed to maintaining strong bond ratings and being as transparent as possible with the investor community and public at large.
We hope you find this website useful as you seek to better understand LCRA TSC’s credit fundamentals. Please do not hesitate to contact our office with questions or feedback.
Jim Travis, Chief Financial Officer
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