By Sheri Kasprzak
New York, Oct. 27 - The Harris County Cultural Education Facilities Finance Corp. of Texas sold Tuesday $164.5 million in series 2009 revenue refunding bonds, said a sellside source familiar with the deal.
The bonds (/AA-/) were sold on a negotiated basis with J.P. Morgan Securities Inc. as the lead manager.
The bonds are due 2010 to 2020 with a term bond due 2025. The coupons range from 3% to 5.5% and yields range from 1.7% to 5%.
Proceeds from the sale will be used to fund improvements and construction projects at educational facilities throughout the county.
The corporation is based in Houston.
| Issuer: | Harris County Cultural Education Facilities Finance Corp.
|
| Issue: | Series 2009 revenue refunding bonds
|
| Amount: | $164.5 million
|
| Type: | Negotiated
|
| Maturities: | 2010 to 2020 with term bond in 2025
|
| Coupons: | 3% to 5.5%
|
| Yields: | 1.7% to 5%
|
| Underwriter: | J.P. Morgan Securities Inc. (lead)
|
| Ratings: | Standard & Poor's AA-
|
| Pricing date: | Oct. 27
|
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