By Sheri Kasprzak
New York, Sept. 4 – The Houston Independent School District of Texas sold $349.74 million of series 2014A variable-rate limited tax schoolhouse bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through senior managers Morgan Stanley & Co. LLC and Citigroup Global Markets Inc.
The bonds are due June 1, 2039 and initially bear interest at 1% priced at 100.47 to yield 0.35%.
Proceeds will be used to construct and equip school facilities within the district, as well as to acquire new sites for such facilities.
| Issuer: | Houston Independent School District
|
| Issue: | Series 2014A variable-rate limited tax schoolhouse bonds
|
| Amount: | $349.74 million
|
| Maturity: | June 1, 2039
|
| Coupon: | 1%
|
| Price: | 100.47
|
| Yield: | 0.35%
|
| 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: | Sept. 4
|
| Settlement date: | Sept. 10
|
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