By Sheri Kasprzak
New York, July 18 - Hays Consolidated Independent School District in Texas priced $86.7 million in series 2008 unlimited tax school building bonds, said an official statement released Friday.
The bonds (/AAA/AAA) were sold on a negotiated basis with Southwest Securities as the senior manager. The co-managers are Raymond James, Citigroup Global Markets, Morgan Keegan, Coastal Securities, Edward Jones and Samco Capital Markets.
The sale includes $39.25 million in serial current interest bonds, $43.53 million in term current interest bonds and $3.92 million in premium capital appreciation bonds.
The serial current interest bonds are due 2017 to 2029 and 2038 with coupons from 4% to 5.25% and yields from 3.83% to 4.95%.
The term current interest bonds are due 2033, 2035 and 2037. The 2033 bonds have a 5% coupon to yield 4.78%, and the 2035 bonds have a 5% coupon to yield 4.8%. The 2037 bonds have a 5% coupon to yield 4.81%.
The capital appreciation bonds are due from 2012 to 2016 with yields from 3.58% to 4.2%.
Proceeds will be used for construction, renovation and equipment purchases for the district's schools.
| Issuer: | Hays Consolidated Independent School District (Texas)
|
| Issue: | Series 2008 unlimited tax school building bonds
|
| Amount: | $86.7 million
|
| Type: | Negotiated
|
| Underwriters: | Southwest Securities (lead); Raymond James; Citigroup Global Markets; Morgan Keegan; Coastal Securities; Edward Jones; Samco Capital Markets
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 14
|
| Settlement date: | Aug. 7
|
|
|
| Serial current interest bonds
|
| Maturity | Type | Coupon | Yield
|
| 2017 | Serial | 4% | 3.83%
|
| 2018 | Serial | 4% | 3.94%
|
| 2019 | Serial | 4% | 4.10%
|
| 2020 | Serial | 5.25% | 4.12%
|
| 2021 | Serial | 5.25% | 4.20%
|
| 2022 | Serial | 5.25% | 4.26%
|
| 2023 | Serial | 5.25% | 4.32%
|
| 2024 | Serial | 5.25% | 4.38%
|
| 2025 | Serial | 5.25% | 4.44%
|
| 2026 | Serial | 5.25% | 4.49%
|
| 2027 | Serial | 5.25% | 4.54%
|
| 2028 | Serial | 5.25% | 4.61%
|
| 2029 | Serial | 4.625% | 4.75%
|
| 2038 | Serial | 4.75% | 4.95%
|
|
|
| Term current interest bonds
|
| Maturity | Type | Coupon | Yield
|
| 2033 | Term | 5% | 4.78%
|
| 2035 | Term | 5% | 4.80%
|
| 2037 | Term | 5% | 4.81%
|
|
|
| Capital appreciation bonds
|
| Maturity | Type | Yield
|
| 2012 | Serial | 3.58%
|
| 2013 | Serial | 3.74%
|
| 2014 | Serial | 3.89%
|
| 2015 | Serial | 4.04%
|
| 2016 | Serial | 4.20%
|
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