Published on 7/19/2011 in the Prospect News Municipals Daily.
New Issue: Frisco, Texas, sells $123.43 million G.O., improvement bonds
By Sheri Kasprzak
New York, July 19 - The City of Frisco, Texas, sold $123.43 million of series 2011 general obligation refunding and improvement bonds Tuesday, according to a pricing sheet.
The bonds (Aa1/AA/) were sold through Morgan Keegan & Co. Inc. with Robert W. Baird & Co. Inc., Citigroup Global Markets Inc. and Stifel, Nicolaus & Co. Inc. as the co-managers.
The bonds are due 2012 to 2031 with 2% to 5% coupons.
Proceeds will be used to construct, equip and acquire fire department facilities, including the purchase of firefighting apparatus and equipment, as well as to refund the city's series 2001 and 2003 G.O. bonds and series 2001, 2001A and 2003A certificates of obligation.
| Issuer: | Frisco, Texas
|
| Issue: | Series 2011 general obligation refunding and improvement bonds
|
| Amount: | $123.43 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. (lead), Robert W. Baird & Co. Inc., Citigroup Global Markets Inc. and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Pricing date: | July 19
|
| Settlement date: | Aug. 16
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.98 million | 2012 | Serial | 3% | 101.416
|
| $990,000 | 2013 | Serial | 2% | 102.28
|
| $9.34 million | 2014 | Serial | 4% | 108.206
|
| $9.68 million | 2015 | Serial | 4% | 110.285
|
| $10.085 million | 2016 | Serial | 5% | 115.874
|
| $10.56 million | 2017 | Serial | 5% | 117.191
|
| $325,000 | 2018 | Serial | 3% | 105.252
|
| $10.725 million | 2018 | Serial | 5% | 117.328
|
| $800,000 | 2019 | Serial | 3.5% | 106.797
|
| $10.93 million | 2019 | Serial | 5% | 116.994
|
| $1.22 million | 2020 | Serial | 3.5% | 105.648
|
| $11.04 million | 2020 | Serial | 5% | 116.945
|
| $2.82 million | 2021 | Serial | 4% | 108.901
|
| $10 million | 2021 | Serial | 5% | 117.143
|
| $13.285 million | 2022 | Serial | 3.125% | 100
|
| $13.79 million | 2023 | Serial | 5% | 113.938
|
| $420,000 | 2024 | Serial | 3.5% | 98.505
|
| $435,000 | 2025 | Serial | 3.75% | 99.162
|
| $450,000 | 2026 | Serial | 3.75% | 98.133
|
| $470,000 | 2027 | Serial | 4% | 99.885
|
| $490,000 | 2028 | Serial | 4% | 98.809
|
| $510,000 | 2029 | Serial | 4.1% | 98.891
|
| $530,000 | 2030 | Serial | 4.125% | 98.032
|
| $555,000 | 2031 | Serial | 4.25% | 98.307
|
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