By Sheri Kasprzak
New York, Aug. 6 - The Dallas County Community College District priced $221,604,583 in series 2008 general obligation refunding and improvement bonds, said Ed DesPlas, chancellor of business affairs at the district.
The bonds (//AAA) were sold Tuesday on a negotiated basis with Southwest Securities and Ramirez & Co. as the lead managers. The true interest cost came in at 4.475%.
The bonds are due 2009 to 2028 with coupons from 3.5% to 5% and yields from 1.6% to 4.74%.
Proceeds will be used to refund the district's outstanding commercial paper notes as well as to construct and equip school buildings.
| Issuer: | Dallas County Community College District
|
| Issue: | Series 2008 general obligation refunding and improvement bonds
|
| Amount: | $221,604,583
|
| Type: | Negotiated
|
| Underwriters: | Southwest Securities and Ramirez & Co. (leads)
|
| TIC: | 4.475%
|
| Ratings: | Fitch: AAA
|
| Pricing date: | Aug. 5
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3.5% | 1.60%
|
| 2010 | Serial | 3.5% | 2.24%
|
| 2011 | Serial | 5% | 2.72%
|
| 2012 | Serial | 5% | 2.96%
|
| 2013 | Serial | 4% | 3.16%
|
| 2014 | Serial | 5% | 3.35%
|
| 2015 | Serial | 4% | 3.51%
|
| 2016 | Serial | 5% | 3.67%
|
| 2017 | Serial | 5% | 3.82%
|
| 2018 | Serial | 5% | 3.94%
|
| 2019 | Serial | 5% | 4.10%
|
| 2020 | Serial | 5% | 4.23%
|
| 2021 | Serial | 5% | 4.34%
|
| 2022 | Serial | 5% | 4.41%
|
| 2023 | Serial | 5% | 4.47%
|
| 2024 | Serial | 5% | 4.53%
|
| 2025 | Serial | 5% | 4.59%
|
| 2026 | Serial | 5% | 4.64%
|
| 2027 | Serial | 5% | 4.69%
|
| 2028 | Serial | 5% | 4.74%
|
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