Published on 5/2/2013 in the Prospect News Municipals Daily.
New Issue: Mansfield Independent School District, Texas, sells $171.28 million refunding bonds
By Sheri Kasprzak
New York, May 2 - The Mansfield Independent School District of Texas priced $171.28 million of series 2013 unlimited tax refunding bonds, according to a pricing sheet.
The bonds (Aa2//AAA) were sold through Raymond James/Morgan Keegan.
The offering included $63,255,000 of series 2013A bonds, $86.17 million of series 2013B bonds and $21,855,000 of series 2013C taxable bonds.
The 2013A bonds are due 2013 to 2030 with 2% to 5% coupons. The 2013B bonds are due 2013 to 2031 with 2% to 5% coupons. The 2013C bonds are due 2013 to 2025 with 4% coupons.
Proceeds will be used to refund the district's series 2005 and 2006 school building bonds.
| Issuer: | Mansfield Independent School District
|
| Issue: | Series 2013 unlimited tax refunding bonds
|
| Amount: | $171.28 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan (lead), BOSC Inc., Frost Bank and Southwest Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Fitch: AAA
|
| Pricing date: | May 2
|
| Settlement date: | May 30
|
|
|
| $63,255,000 series 2013A bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1 million | 2013 | Serial | 2% | 100.364
|
| $385,000 | 2014 | Serial | 2% | 101.201
|
| $390,000 | 2015 | Serial | 2% | 102.721
|
| $1,945,000 | 2016 | Serial | 3% | 106.688
|
| $2,135,000 | 2017 | Serial | 5% | 115.911
|
| $2.06 million | 2018 | Serial | 5% | 119.112
|
| $1,805,000 | 2019 | Serial | 5% | 121.642
|
| $2.43 million | 2020 | Serial | 5% | 123.693
|
| $2.65 million | 2021 | Serial | 5% | 125.22
|
| $4,495,000 | 2022 | Serial | 5% | 126.789
|
| $4,425,000 | 2023 | Serial | 5% | 127.769
|
| $3,705,000 | 2024 | Serial | 5% | 126.349
|
| $4.41 million | 2025 | Serial | 5% | 125.446
|
| $5,205,000 | 2026 | Serial | 5% | 124.353
|
| $5.84 million | 2027 | Serial | 4% | 112.031
|
| $6,635,000 | 2028 | Serial | 4% | 111.124
|
| $6.85 million | 2029 | Serial | 4% | 110.314
|
| $6.89 million | 2030 | Serial | 4% | 109.778
|
|
|
| $86.17 million series 2013B bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,395,000 | 2013 | Serial | 2% | 100.374
|
| $605,000 | 2014 | Serial | 2% | 101.201
|
| $620,000 | 2015 | Serial | 2% | 102.721
|
| $1,955,000 | 2016 | Serial | 5% | 115.911
|
| $2.26 million | 2018 | Serial | 5% | 119.112
|
| $2,375,000 | 2019 | Serial | 5% | 121.642
|
| $2.5 million | 2020 | Serial | 5% | 123.693
|
| $3,245,000 | 2021 | Serial | 5% | 125.22
|
| $5,275,000 | 2022 | Serial | 5% | 126.789
|
| $5.58 million | 2023 | Serial | 5% | 127.769
|
| $5,835,000 | 2024 | Serial | 5% | 126.349
|
| $6,135,000 | 2025 | Serial | 5% | 125.446
|
| $6,445,000 | 2026 | Serial | 5% | 124.353
|
| $6.95 million | 2027 | Serial | 4% | 112.031
|
| $7,735,000 | 2028 | Serial | 4% | 111.124
|
| $8,365,000 | 2029 | Serial | 4% | 110.314
|
| $9.01 million | 2030 | Serial | 4% | 109.778
|
| $9,885,000 | 2031 | Serial | 4% | 109.246
|
|
|
| $21,855,000 series 2013C taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $365,000 | 2013 | Serial | 4% | 100.763
|
| $245,000 | 2014 | Serial | 4% | 102.528
|
| $255,000 | 2015 | Serial | 4% | 105.945
|
| $3,545,000 | 2016 | Serial | 4% | 109.119
|
| $3.69 million | 2017 | Serial | 4% | 111.474
|
| $3.85 million | 2018 | Serial | 4% | 113.024
|
| $1,375,000 | 2019 | Serial | 4% | 113.626
|
| $945,000 | 2020 | Serial | 4% | 114.521
|
| $1.4 million | 2021 | Serial | 4% | 114.989
|
| $1,455,000 | 2022 | Serial | 4% | 115.046
|
| $1,515,000 | 2023 | Serial | 4% | 114.245
|
| $1,575,000 | 2024 | Serial | 4% | 112.397
|
| $1.64 million | 2025 | Serial | 4% | 111.033
|
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