Published on 7/9/2013 in the Prospect News Municipals Daily.
New Issue: Texas Water Development prices $68.95 million of revolving fund bonds
By Sheri Kasprzak
New York, July 9 - The Texas Water Development Board sold $68,945,000 of series 2013A state revolving fund revenue refunding bonds, said a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold through Piper Jaffray & Co.
The bonds are due 2014 to 2016 with 1% to 5% coupons and 0.2% to 0.93% yields.
Proceeds will be used to refund the board's series 1998A and 1999B revenue bonds.
| Issuer: | Texas Water Development Board
|
| Issue: | Series 2013A state revolving fund revenue refunding bonds
|
| Amount: | $68,945,000
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead), Mesirow Financial Inc., Raymond James/Morgan Keegan and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 9
|
| Settlement date: | July 23
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.59 million | 2014 | Serial | 1% | 100.781 | 0.2%
|
| $32.58 million | 2015 | Serial | 5% | 108.762 | 0.54%
|
| $26,795,000 | 2016 | Serial | 2% | 103.135 | 0.93%
|
| $6.98 million | 2016 | Serial | 5% | 111.925 | 0.93%
|
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