Published on 5/4/2011 in the Prospect News Municipals Daily.
New Issue: Humble ISD, Texas, sells $57.4 million of school bonds
By Sheri Kasprzak
New York, May 4 - The Humble Independent School District of Texas priced $57.395 million of series 2011 bonds, according to a pricing sheet.
The offering included $24.03 million of series 2011A school building bonds and $33.365 million of series 2011B refunding bonds.
The 2011A bonds are due 2016 to 2035 with 3% to 5% coupons. The 2011B bonds are due 2012 to 2022 with coupons from 3% to 5%.
The bonds (Aaa/AAA/) were sold through RBC Capital Markets LLC with Bank of America Merrill Lynch and Morgan Keegan & Co. Inc. as the co-managers.
Proceeds will be used to acquire, construct and equip school buildings and school district facilities, purchase building sites and school buses, as well as refund a portion of the district's outstanding debt.
| Issuer: | Humble Independent School District
|
| Issue: | Series 2011 school building and refunding bonds
|
| Amount: | $57.395 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC (lead), Bank of America Merrill Lynch and Morgan Keegan & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 4
|
| Settlement date: | May 15
|
|
|
| $24.03 million series 2011A
|
| Amount | Maturity | Type | Coupon | Price
|
| $795,000 | 2016 | Serial | 3% | 105.637
|
| $815,000 | 2017 | Serial | 3% | 104.99
|
| $840,000 | 2018 | Serial | 3% | 103.763
|
| $865,000 | 2019 | Serial | 3% | 102.215
|
| $895,000 | 2020 | Serial | 3% | 100.455
|
| $920,000 | 2021 | Serial | 5% | 115.743
|
| $965,000 | 2022 | Serial | 5% | 114.749
|
| $1.015 million | 2023 | Serial | 5% | 113.231
|
| $1.065 million | 2024 | Serial | 5% | 111.738
|
| $1.12 million | 2025 | Serial | 5% | 110.011
|
| $1.175 million | 2026 | Serial | 5% | 108.991
|
| $1.235 million | 2027 | Serial | 5% | 107.981
|
| $1.295 million | 2028 | Serial | 5% | 107.148
|
| $1.36 million | 2029 | Serial | 5% | 106.324
|
| $1.43 million | 2030 | Serial | 5% | 105.506
|
| $1.5 million | 2031 | Serial | 5% | 104.696
|
| $1.575 million | 2032 | Serial | 4.5% | 98.273
|
| $1.645 million | 2033 | Serial | 4.5% | 97.555
|
| $1.72 million | 2034 | Serial | 4.625% | 97.859
|
| $1.8 million | 2035 | Serial | 4.75% | 98.731
|
|
|
| $33.365 million series 2011B
|
| Amount | Maturity | Type | Coupon | Price
|
| $550,000 | 2012 | Serial | 3% | 101.829
|
| $1.33 million | 2013 | Serial | 3% | 103.976
|
| $1.665 million | 2014 | Serial | 3% | 105.241
|
| $2.24 million | 2015 | Serial | 3% | 105.777
|
| $2.365 million | 2016 | Serial | 3% | 105.637
|
| $4.74 million | 2017 | Serial | 5% | 115.782
|
| $4.135 million | 2018 | Serial | 5% | 116.177
|
| $3.875 million | 2019 | Serial | 5% | 116.304
|
| $3.94 million | 2020 | Serial | 5% | 115.822
|
| $4.15 million | 2021 | Serial | 5% | 115.743
|
| $4.375 million | 2022 | Serial | 5% | 114.839
|
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