By Sheri Kasprzak
New York, May 21 - The North Texas Higher Education Authority Inc. priced $207.2 million in series 2010-1 student loan revenue floating-rate bonds (/AAA/AAA) on Thursday, according to a pricing sheet.
The sale included $113.96 million in class A-1 bonds and $93.24 million in class A-2 bonds.
The class A-1 bonds are due July 1, 2019 and priced at three-month Libor plus 40 bps. The class A-2 bonds are due July 1, 2030 and priced at three-month Libor plus 90 bps. Both issues were priced at par.
Bank of America Merrill Lynch was the senior manager.
Proceeds will fund student loans.
The Arlington, Texas-based authority grants student loans to eligible students.
| Issuer: | North Texas Higher Education Authority Inc.
|
| Issue: | Series 2010-1 student loan revenue floating-rate bonds
|
| Amount: | $207.2 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch (lead)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
|
|
| Class A-1
|
| Maturity: | July 1, 2019
|
| Coupon: | Three-month Libor plus 40 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 40 bps
|
|
|
| Class A-2
|
| Maturity: | July 1, 2030
|
| Coupon: | Three-month Libor plus 90 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 90 bps
|
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