Bonds

Bond Offering

State Water Implementation Revenue Fund for Texas Revenue Bonds, Series 2025 (Master Trust)*

State Water Implementation Revenue Fund for Texas Revenue Bonds, Series 2025 (Master Trust)*

Par Amount
$1,871,025,000
Tax Status
Tax-Exempt
Sale Date
09/24/2025
Sector
Water / Sewer
State
Texas
Bond Type
Fixed Rate
Method of Sale
Negotiated
Closing Date
10/10/2025

Additional Information

*Preliminary, subject to change

Bond Offering Ratings

S&P
AAA
Outlook
Stable
Date
Aug 2025
Fitch
AAA
Outlook
Stable
Date
Sep 2025

Senior Underwriter

BofA Securities, Inc.

Financial Advisor

Hilltop Securities Inc.

Bond Counsel

McCall, Parkhurst & Horton, LLP

Disclosure Counsel

Bracewell LLP