By Sheri Kasprzak
New York, Sept. 22 - The Houston Community College System of Texas priced $109.49 million of series 2011 limited tax refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through Jefferies & Co. with J.P. Morgan Securities LLC, Morgan Keegan & Co. Inc. and Rice Financial Products Co. as the co-managers.
The bonds are due 2014 to 2028 with 2.25% to 5% coupons.
Proceeds will be used to refund the system's series 2003 limited tax bonds and series 2005 limited tax building and refunding bonds.
| Issuer: | Houston Community College System
|
| Issue: | Series 2011 limited tax refunding bonds
|
| Amount: | $109.49 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. (lead), J.P. Morgan Securities LLC, Morgan Keegan & Co. Inc. and Rice Financial Products Co. (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | Sept. 22
|
| Settlement date: | Oct. 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.76 million | 2014 | Serial | 4% | 107.917
|
| $5.61 million | 2015 | Serial | 4% | 110.495
|
| $5.865 million | 2016 | Serial | 5% | 116.165
|
| $1 million | 2017 | Serial | 2.25% | 104.044
|
| $5.15 million | 2017 | Serial | 5% | 118.125
|
| $6.455 million | 2018 | Serial | 5% | 119.425
|
| $6.785 million | 2019 | Serial | 5% | 120.009
|
| $7.13 million | 2020 | Serial | 5% | 120.216
|
| $7.5 million | 2021 | Serial | 5% | 120.339
|
| $7.885 million | 2022 | Serial | 5% | NRO
|
| $1.5 million | 2023 | Serial | 4% | NRO
|
| $6.78 million | 2023 | Serial | 5% | NRO
|
| $8.695 million | 2024 | Serial | 5% | NRO
|
| $9.14 million | 2025 | Serial | 5% | NRO
|
| $9.61 million | 2026 | Serial | 5% | NRO
|
| $10.105 million | 2027 | Serial | 5% | NRO
|
| $3.52 million | 2028 | Serial | 5% | NRO
|
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