Published on 6/20/2012 in the Prospect News Municipals Daily.
New Issue: Frisco Independent School District, Texas, sells $71.19 million of school bonds
By Sheri Kasprzak
New York, June 20 - The Frisco Independent School District of Texas sold $71.19 million of series 2012A unlimited tax school building and refunding bonds, according to a pricing sheet.
The bonds (Aaa) were sold through BOSC Inc.
The bonds are due 2014 to 2032 with term bonds due in 2035 and 2041. The serial coupons range from 2% to 5%. The 2035 bonds have a split maturity with a 3.5% coupon priced at 97.67 and a 5% coupon priced at 114.142. The 2041 bonds have a 3.75% coupon priced at 98.428 and a 5% coupon priced at 113.437.
Proceeds will be used to refund certain maturities of outstanding debt without an extension of the final maturity and to fund various capital improvement projects throughout the district.
| Issuer: | Frisco Independent School District
|
| Issue: | Series 2012A unlimited tax school building and refunding bonds
|
| Amount: | $71.19 million
|
| Type: | Negotiated
|
| Underwriters: | BOSC Inc. (lead)
|
| Ratings: | Moody's: Aaa
|
| Pricing date: | June 20
|
| Settlement date: | July 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $55,000 | 2014 | Serial | 2% | 103.117
|
| $50,000 | 2015 | Serial | 2% | 104.062
|
| $55,000 | 2016 | Serial | 2% | 104.944
|
| $1,075,000 | 2017 | Serial | 3% | 110.008
|
| $1,115,000 | 2018 | Serial | 3% | 110.047
|
| $1,155,000 | 2019 | Serial | 5% | 123.159
|
| $985,000 | 2020 | Serial | 5% | 123.994
|
| $1,045,000 | 2021 | Serial | 5% | 124.635
|
| $1.11 million | 2022 | Serial | 5% | 124.482
|
| $1.17 million | 2023 | Serial | 5% | 123.022
|
| $1,235,000 | 2024 | Serial | 5% | 121.677
|
| $1.3 million | 2025 | Serial | 5% | 120.633
|
| $1.37 million | 2026 | Serial | 5% | 119.786
|
| $1.44 million | 2027 | Serial | 5% | 118.946
|
| $1.52 million | 2028 | Serial | 3% | 97.621
|
| $1.57 million | 2029 | Serial | 5% | 117.562
|
| $1,655,000 | 2030 | Serial | 5% | 116.923
|
| $1,585,000 | 2031 | Serial | 5% | 116.288
|
| $1,665,000 | 2032 | Serial | 3.25% | 96.975
|
| $6.47 million | 2035 | Term | 3.5% | 97.67
|
| $7.32 million | 2035 | Term | 5% | 114.142
|
| $5 million | 2041 | Term | 3.75% | 98.428
|
| $31,245,000 | 2041 | Term | 5% | 113.437
|
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