There is a second possibility, it does not give as good a result but it does the trick.
Make a textbox and format your text the way you want it, in the example below I have adjusted the size of the font and applied bold.
Select your textbox and copy it. Paste it back as a PNG picture use the Paste Special option.
Now select the copied textbox that has turned into a picture, choose Format tab under Picture tools, click the Picture effects button, choose Soft edges, click the number of points, 5 is a good one to begin with. You can increase or decrease afterwards if you click the soft edges options entry at the bottom of the dialog.
Result:
