Houston Higher Education Finance to sell $65.07 million of bonds for Cosmos Foundation

By Sheri Kasprzak

New York, May 2 - The City of Houston Higher Education Finance Corp. is set to sell $65.065 million of series 2011 education revenue bonds for the Cosmos Foundation, Inc., said a preliminary official statement.

The sale includes $59.98 million of series 2011A bonds and $5.085 million of taxable series 2011Q bonds.

The bonds (BBB) will be sold through Morgan Keegan & Co. Inc. and Jefferies & Co.

The 2011A bonds are due 2021, 2031 and 2041. The 2011Q bonds are due May 15, 2026.

Proceeds will be used to finance or refinance the construction, equipment and acquisition of three new charter schools in Houston.

The corporation provides funding for nonprofit educational organizations. Based in Houston, the foundation operates charter schools.

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