By Cristal Cody
Springdale, Ark., Feb. 11 - Fort Worth Independent School District in Texas priced $232.135 million school building unlimited tax bonds with a 4.105% true interest cost on Monday, the financial advisor told Prospect News.
The series 2008 bonds priced with 3.125% to 5% coupons with yields from 1.35% to 4.3%, said David Medanich, vice chairman of First Southwest Co.
The bonds (Aaa/AAA) have serial maturities from 2009 to 2028.
JPMorgan is the lead manager of the negotiated deal, with Estrada Hinojosa & Co., Siebert Brandford Shank & Co. and RBC Capital Markets as co-managers.
The Tarrant County, Texas, district plans to use the proceeds to purchase school buses, acquire land and construct and equip school buildings.
| Issuer: | Fort Worth Independent School District
|
| Issue: | School building unlimited tax bonds
|
| Type: | Negotiated
|
| Amount: | $232.135 million
|
| Coupons: | 3.125% to 5%
|
| Yields: | 1.35% to 4.3%
|
| True interest cost: | 4.105%
|
| Maturities: | 2009 to 2028
|
| Underwriter: | JPMorgan (lead)
|
| Ratings: | Moody's: Aaa |
|
| S&P: AAA
|
| Pricing date: | Feb. 11
|
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