Press Release

Voluntary Notice of Potential Bond Issuance

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May 24, 2023

Press Release

On May 24, 2023, the Board of Directors of the Lower Colorado River Authority ("LCRA") adopted a resolution delegating the authority to an authorized representative of LCRA to approve the issuance of one or more series of bonds in a maximum aggregate principal amount not to exceed $300 million for the purposes of (i) refunding certain outstanding debt of LCRA, (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 "Series 2023A Bonds") and one series of multi-mode variable rate bonds (the "Series 2023B (Put) Bonds," and together with the Series 2023A Bonds, the “Proposed Bonds”) collectively up to the maximum authorized principal amount of $300 million on June 22, 2023 through a negotiated sale to Barclays Capital Inc. as sole underwriter.

The size, timing, and structure of the potential transaction for the Proposed Bonds is subject to market conditions. LCRA reserves the right to change the timing and size of the sale or not to issue the Proposed Bonds.


*Preliminary, subject to change.

This notice does not constitute an offer to sell or the solicitation of an offer to buy any bonds nor will there be any sale of the Proposed Bonds by any person in any jurisdiction in which it is unlawful for such person to make an offer, solicitation, or sale. Any such offer or solicitation will only be made pursuant to an official statement that prospective investors should review in its entirety before making any investment decision.

The publication of this notice does not constitute or imply any representation (i) that the foregoing is material to investors, (ii) that no other circumstances or events have occurred or that no other information exists concerning LCRA or any of its outstanding debt obligations and the Proposed Bonds which may have a bearing on the financial condition of LCRA, the security for such debt obligations or the Proposed Bonds, or an investor’s decision to buy, sell or hold any such debt obligations or the Proposed Bonds, or (iii) regarding any other financial, operating or other information about LCRA or any of its outstanding debt obligations.

By providing this notice as a voluntary filing, LCRA does not undertake to make any additional filings not otherwise required by their respective undertakings made pursuant to the requirements of the United States Securities and Exchange Commission Rule 15c2-12. LCRA specifically disclaims any obligation to update the information contained in this notice or to provide any such similar notices in the future.

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