By Sheri Kasprzak
New York, Aug. 31 - The Harris County Flood Control District sold $183.2 million in series 2010A contract tax refunding bonds, according to a pricing sheet. The offering was downsized from $205 million.
The bonds (/AAA/AAA) were sold on a negotiated basis with Goldman Sachs & Co. and Piper Jaffray & Co. as the lead managers. The co-managers were Estrada Hinojosa & Co. Inc., J.P. Morgan Securities Inc., Morgan Keegan & Co. Inc., Rice Financial Products Co., RBC Capital Markets Corp. and Siebert Brandford Shank & Co. LLC.
The bonds are due 2024 to 2030 with term bonds due 2034 and 2039. The bonds have 5% coupons. The 2034 bonds have a 5% coupon priced at 109.486, and the 2039 bonds have a 5% coupon priced at 108.706.
Proceeds will be used to refund and defease all of the district's outstanding commercial paper notes.
| Issuer: | Harris County Flood Control District
|
| Issue: | Series 2010A contract tax refunding bonds
|
| Amount: | $183.2 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. and Piper Jaffray & Co. (lead), Estrada Hinojosa & Co. Inc., J.P. Morgan Securities Inc., Morgan Keegan & Co. Inc., Rice Financial Products Co., RBC Capital Markets Corp. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 15
|
|
|
| Maturity | Type | Coupon | Price
|
| 2024 | Serial | 5% | 117.579
|
| 2025 | Serial | 5% | 116.635
|
| 2026 | Serial | 5% | 115.607
|
| 2027 | Serial | 5% | 114.589
|
| 2028 | Serial | 5% | 113.765
|
| 2029 | Serial | 5% | 113.038
|
| 2030 | Serial | 5% | 112.048
|
| 2034 | Term | 5% | 109.486
|
| 2039 | Term | 5% | 108.706
|
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