Published on 2/18/2015 in the Prospect News Municipals Daily.
New Issue: Aldine ISD, Texas, prices $50 million of building bonds
By Sheri Kasprzak
New York, Feb. 18 – The Aldine Independent School District of Texas sold $50 million of series 2015 school building bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold competitively. Robert W. Baird & Co. won the bid for the offering at a 3.185412% true interest cost, said Anne-Marie Hazzan, the district’s assistant superintendent of finance.
The bonds are due 2018 to 2040 with 3% to 5% coupons and 0.8% to 3.43% yields.
Proceeds will be used to acquire, equip, construct and furnish school buildings for the district.
| Issuer: | Aldine Independent School District
|
| Issue: | Series 2015 school building bonds
|
| Amount: | $50 million
|
| Type: | Competitive
|
| Underwriter: | Robert W. Baird & Co. (winner)
|
| True interest cost: | 3.185412%
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Feb. 17
|
| Settlement date: | March 17
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,465,000 | 2018 | Serial | 5% | 112.06 | 0.80%
|
| $1.51 million | 2019 | Serial | 5% | 115.096 | 1.05%
|
| $1,555,000 | 2020 | Serial | 5% | 117.807 | 1.25%
|
| $1.6 million | 2021 | Serial | 5% | 119.726 | 1.50%
|
| $1.65 million | 2022 | Serial | 5% | 120.706 | 1.80%
|
| $1,715,000 | 2023 | Serial | 5% | 121.848 | 2.00%
|
| $1,785,000 | 2024 | Serial | 5% | 122.998 | 2.15%
|
| $1,855,000 | 2025 | Serial | 5% | 124.306 | 2.25%
|
| $1.93 million | 2026 | Serial | 5% | 122.81 | 2.40%
|
| $1,985,000 | 2027 | Serial | 5% | 122.119 | 2.47%
|
| $2,045,000 | 2028 | Serial | 5% | 121.14 | 2.57%
|
| $2,105,000 | 2029 | Serial | 5% | 120.363 | 2.65%
|
| $2.17 million | 2030 | Serial | 3% | 100 | 3.00%
|
| $2,235,000 | 2031 | Serial | 3% | 98.749 | 3.10%
|
| $2,305,000 | 2032 | Serial | 3% | 98.043 | 3.15%
|
| $2,395,000 | 2033 | Serial | 4% | 108.516 | 3.00%
|
| $2,495,000 | 2034 | Serial | 3.125% | 98.242 | 3.25%
|
| $2,595,000 | 2035 | Serial | 3.25% | 99.272 | 3.30%
|
| $2,695,000 | 2036 | Serial | 3.25% | 98.503 | 3.35%
|
| $2,805,000 | 2037 | Serial | 3.25% | 97.997 | 3.38%
|
| $2,915,000 | 2038 | Serial | 3.25% | 97.623 | 3.40%
|
| $6.19 million | 2040 | Serial | 3.375% | 99.081 | 3.43%
|
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