By Sheri Kasprzak
New York, Aug. 29 - The Aldine Independent School District in Texas priced $98.335 million in series 2008 unlimited tax school building bonds, according to an official statement released Friday.
The bonds (Aaa/AAA/) are due from 2009 to 2029 with term bonds due 2031 and 2033. The serials have coupons from 3% to 5% and yields from 1.59% to 4.8%. The 2031 bonds have a 5% coupon to yield 4.88%, and the 2033 bonds have a 4.75% coupon to yield 4.96%.
RBC Capital Markets and Morgan Keegan were the senior managers for the negotiated deal. The co-managers were Citigroup Global Markets, Coastal Securities, Morgan Stanley & Co. Inc., Estrada Hinojosa, Wells Fargo Brokerage Services and Siebert Brandford Shank & Co.
Proceeds will be used for the construction, equipping, acquisition and furnishing of school buildings in the district.
| Issuer: | Aldine Independent School District (Texas)
|
| Issue: | Series 2008 unlimited tax school building bonds
|
| Amount: | $98.335 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets and Morgan Keegan (lead); Citigroup Global Markets, Coastal Securities, Morgan Stanley & Co. Inc., Estrada Hinojosa, Wells Fargo Brokerage Services and Siebert Brandford Shank & Co. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Aug. 22
|
| Settlement date: | Sept. 10
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 1.59%
|
| 2010 | Serial | 3% | 2.05%
|
| 2011 | Serial | 3% | 2.45%
|
| 2012 | Serial | 3% | 2.70%
|
| 2013 | Serial | 3% | 2.91%
|
| 2014 | Serial | 3.5% | 3.12%
|
| 2015 | Serial | 3.5% | 3.27%
|
| 2016 | Serial | 5% | 3.47%
|
| 2017 | Serial | 5% | 3.62%
|
| 2018 | Serial | 5% | 3.78%
|
| 2019 | Serial | 5% | 3.98%
|
| 2020 | Serial | 5% | 4.09%
|
| 2021 | Serial | 5% | 4.23%
|
| 2022 | Serial | 5% | 4.31%
|
| 2023 | Serial | 5% | 4.37%
|
| 2024 | Serial | 5% | 4.43%
|
| 2025 | Serial | 5% | 4.49%
|
| 2026 | Serial | 5% | 4.54%
|
| 2027 | Serial | 5% | 4.59%
|
| 2028 | Serial | 4.5% | 4.75%
|
| 2029 | Serial | 4.625% | 4.80%
|
| 2031 | Term | 5% | 4.88%
|
| 2033 | Term | 4.75% | 4.96%
|
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