Published on 3/8/2012 in the Prospect News Municipals Daily.
New Issue: Alamo Community College, Texas, sells $78.09 million of revenue and refunding bonds
By Sheri Kasprzak
New York, March 8 - The Alamo Community College District of Texas priced $78,095,000 of series 2012 revenue financing system revenue and refunding bonds, according to a pricing sheet.
The deal included $55.8 million of series 2012A revenue and refunding bonds and $22,295,000 of series 2012B taxable refunding bonds.
The 2012A bonds are due 2013 to 2032 with a term bond due in 2036. The serial coupons range from 1.625% to 5.25%.
The 2012B bonds are due 2012 to 2017 with coupons from 0.418% to 1.844%, all priced at par.
The bonds (Aa2/AA-) were sold through senior manager Piper Jaffray & Co. The co-managers were Wells Fargo Securities LLC, Estrada Hinojosa & Co. Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. Inc.
Proceeds will be used to construct a parking garage, as well as to refund existing debt.
| Issuer: | Alamo Community College District
|
| Issue: | Series 2012 revenue financing system revenue and refunding bonds
|
| Amount: | $78,095,000
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead); Wells Fargo Securities LLC, Estrada Hinojosa & Co. Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. Inc.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | March 8
|
| Settlement date: | March 22
|
|
|
| $55.8 million series 2012A revenue and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $400,000 | 2013 | Serial | 2.25% | 102.881
|
| $405,000 | 2014 | Serial | 1.75% | 102.971
|
| $420,000 | 2015 | Serial | 1.625% | 102.928
|
| $430,000 | 2016 | Serial | 2% | 104.63
|
| $4.54 million | 2017 | Serial | 2% | 103.939
|
| $5.06 million | 2018 | Serial | 4% | 114.452
|
| $4,975,000 | 2019 | Serial | 3% | 107.024
|
| $5,175,000 | 2020 | Serial | 5% | 120.801
|
| $5,435,000 | 2021 | Serial | 5% | 121.328
|
| $5.72 million | 2022 | Serial | 5% | 121.708
|
| $6.02 million | 2023 | Serial | 5% | 120.577
|
| $3,165,000 | 2024 | Serial | 5.25% | 121.63
|
| $2,455,000 | 2025 | Serial | 5.25% | 120.917
|
| $1.3 million | 2026 | Serial | 3% | 97.907
|
| $1.34 million | 2027 | Serial | 3% | 96.717
|
| $1.38 million | 2028 | Serial | 3.125% | 97.025
|
| $1.42 million | 2029 | Serial | 3.25% | 97.633
|
| $975,000 | 2030 | Serial | 3.25% | 96.599
|
| $1.01 million | 2031 | Serial | 3.375% | 97.126
|
| $775,000 | 2032 | Serial | 3.5% | 97.695
|
| $3.4 million | 2036 | Term | 3.75% | 96.409
|
|
|
| $22,295,000 series 2012B taxable revenue refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.41 million | 2012 | Serial | 0.418% | 100
|
| $4,655,000 | 2013 | Serial | 0.492% | 100
|
| $4.25 million | 2014 | Serial | 0.895% | 100
|
| $4.3 million | 2015 | Serial | 1.26% | 100
|
| $4.35 million | 2016 | Serial | 1.538% | 100
|
| $330,000 | 2017 | Serial | 1.844% | 100
|
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