Texas Comptroller of Public Accounts

Texas Comptroller of Public Accounts, Glenn Hegar

skip navigation
  • Contact: Lauren Willis
  • Phone: 512-463-4070, Toll-free: 1-800-531-5441 ext. 3-4070

For Immediate Release

skip quote

August 27, 2013  

Comptroller Combs Announces Lowest Interest Rate for Texas Short Term Notes

(AUSTIN) — Texas Comptroller Susan Combs announced today’s sale of $7.2 billion in Texas Tax and Revenue Anticipation Notes (TRANs) received an interest rate of 0.201 percent – a historic low interest rate for the state’s one-year notes.
“The best ratings from Wall Street ratings firms and strong demand for Texas notes helped drive down the borrowing cost,” Combs said. “Buyers bid about $16.7 billion, more than twice the amount offered for sale. The competitive bids for today’s sale show that investors are very confident in the Texas economy and the direction it’s heading.”
Texas has sold annual TRANs since fiscal 1987. Money from TRAN sales is used to help fund expenditures such as public school payments early in the fiscal year and manage cash flow between the start of the fiscal year and the arrival of tax revenues later in the year.

The $7.2 billion in notes from today’s sale will be repaid on Aug. 28, 2014.


Go to Facebook Join the discussion and connect with the Texas Comptroller on Facebook for the latest economic news, surveys and more.

Follow us on Twitter! Get quick Comptroller news and information you need to do business in Texas.

Required Plug-ins

In 2015, the Texas Legislature passed House Bill 855, which requires state agencies to publish a list of the three most commonly used Web browsers on their websites. The Texas Comptroller’s most commonly used Web browsers are Microsoft Internet Explorer, Google Chrome and Apple Safari.