DALLAS — After sitting out 2011, the University of Texas System Board of Regents will offer $200 million of top-rated revenue financing system refunding bonds to a receptive market this week, followed shortly by another $235 million deal.

Proceeds of this week’s deal will refinance $186.3 million of commercial paper, refund some bonds, and finance projects at the system’s Medical Branch in Galveston and its Pan American campus. After this offering, the system will have $389.6 million of tax-exempt and $40.7 million of taxable commercial paper outstanding.

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