Published on 3/27/2013 in the Prospect News Municipals Daily.
New Issue: Magnolia Independent School District, Texas, brings $58.56 million debt
By Sheri Kasprzak
New York, March 27 - The Magnolia Independent School District of Texas sold $58,555,000 of series 2013 unlimited tax refunding bonds, according to a pricing sheet.
The bonds were sold on a negotiated basis with Hutchinson Shockey Erley & Co. as the senior manager.
The bonds are due 2013 and 2016 to 2029 with 2% to 5% coupons.
Proceeds will be used to refund the district's series 2005 schoolhouse bonds.
| Issuer: | Magnolia Independent School District, Texas
|
| Issue: | Series 2013 unlimited tax refunding bonds
|
| Amount: | $58,555,000
|
| Type: | Negotiated
|
| Underwriters: | Hutchinson Shockey Erley & Co. (lead), Raymond James/Morgan Keegan, First Southwest Co. and Southwest Securities Inc. (co-managers)
|
| Pricing date: | March 27
|
| Settlement date: | April 24
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $660,000 | 2013 | Serial | 2% | 100.538
|
| $1,675,000 | 2016 | Serial | 4% | 110.426
|
| $1,755,000 | 2017 | Serial | 4% | 112.618
|
| $1.83 million | 2018 | Serial | 4% | 113.969
|
| $1.85 million | 2019 | Serial | 5% | 120.655
|
| $1.94 million | 2020 | Serial | 5% | 121.437
|
| $2.03 million | 2021 | Serial | 5% | 122.256
|
| $2.17 million | 2022 | Serial | 5% | 122.13
|
| $5.31 million | 2023 | Serial | 5% | 122.59
|
| $5,595,000 | 2024 | Serial | 5% | 120.972
|
| $7,235,000 | 2025 | Serial | 5% | 119.576
|
| $7.72 million | 2026 | Serial | 5% | 118.591
|
| $8.11 million | 2027 | Serial | 5% | 117.908
|
| $8,495,000 | 2028 | Serial | 5% | 117.036
|
| $2.18 million | 2029 | Serial | 3.25% | 97.152
|
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