Published on 1/20/2016 in the Prospect News Municipals Daily.
New Issue: Aldine ISD, Texas, prices $265.46 million school building bonds
By Sheri Kasprzak
New York, Jan. 20 – The Aldine Independent School District of Texas priced $265,455,000 of series 2016 unlimited tax school building and refunding bonds, according to a pricing sheet.
The bonds (Aaa/AAA) were sold through senior managers Wells Fargo Securities LLC and Baird & Co. Inc.
The bonds are due 2018 to 2041 with a term bond due in 2044. The serial coupons range from 3% to 5% with yields from 0.79% to 3.35%. The 2044 bonds have a 4% coupon priced at 106.382 to yield 3.18%.
Proceeds will be used to construct, acquire, improve and renovate school buildings in the district, as well as to refund the district’s series 2007A bonds.
| Issuer: | Aldine Independent School District
|
| Issue: | Series 2016 unlimited tax school building and refunding bonds
|
| Amount: | $265,455,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and Baird & Co. Inc. (lead), George K. Baum & Co., Estrada Hinojosa & Co. Inc., J.P. Morgan Securities LLC and Loop Capital Markets LLC (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Jan. 20
|
| Settlement date: | Feb. 1
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2018 | Serial | 4% | 106.4 | 0.79%
|
| 2019 | Serial | 5% | 112.004 | 0.95%
|
| 2020 | Serial | 5% | 115.357 | 1.08%
|
| 2021 | Serial | 5% | 118.597 | 1.17%
|
| 2022 | Serial | 5% | 121.272 | 1.31%
|
| 2023 | Serial | 5% | 123.218 | 1.50%
|
| 2024 | Serial | 5% | 124.88 | 1.67%
|
| 2025 | Serial | 5% | 126.611 | 1.79%
|
| 2026 | Serial | 5% | 125.381 | 1.92%
|
| 2027 | Serial | 5% | 124.351 | 2.03%
|
| 2028 | Serial | 5% | 123.424 | 2.13%
|
| 2029 | Serial | 5% | 122.597 | 2.22%
|
| 2030 | Serial | 4% | 111.015 | 2.62%
|
| 2031 | Serial | 4% | 110.339 | 2.70%
|
| 2032 | Serial | 4% | 109.835 | 2.76%
|
| 2033 | Serial | 5% | 120.153 | 2.49%
|
| 2034 | Serial | 5% | 119.707 | 2.54%
|
| 2035 | Serial | 5% | 119.263 | 2.59%
|
| 2036 | Serial | 5% | 118.82 | 2.64%
|
| 2037 | Serial | 3% | 95.772 | 3.28%
|
| 2037 | Serial | 4% | 107.764 | 3.01%
|
| 2038 | Serial | 3.125% | 96.515 | 3.35%
|
| 2039 | Serial | 5% | 117.679 | 2.77%
|
| 2040 | Serial | 5% | 117.418 | 2.80%
|
| 2041 | Serial | 5% | 117.244 | 2.82%
|
| 2044 | Term | 4% | 106.382 | 3.18%
|
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