Published on 5/23/2012 in the Prospect News Municipals Daily.
New Issue: Houston ISD prices $182.08 million refunding bonds
By Sheri Kasprzak
New York, May 23 - The Houston Independent School District of Texas sold $182.08 million of series 2012 limited tax refunding bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. The co-managers were Estrada Hinojosa & Co. Inc. and Loop Capital Markets LLC.
The bonds are due 2028 to 2030 with 1.5% to 2.5% coupons.
Proceeds will be used to refund all of the district's outstanding series 2004 variable-rate limited tax schoolhouse bonds.
| Issuer: | Houston Independent School District
|
| Issue: | Series 2012 limited tax refunding bonds
|
| Amount: | $182.08 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. (lead), Estrada Hinojosa & Co. Inc. and Loop Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 23
|
| Settlement date: | May 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $54,945,000 | 2028 | Serial | 1.5% | 101.046
|
| $62.07 million | 2029 | Serial | 2% | 102.577
|
| $65,065,000 | 2030 | Serial | 2.5% | 104.725
|
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