Published on 9/12/2013 in the Prospect News Municipals Daily.
New Issue: Northside Independent School, Texas, prices $68.98 million school bonds
By Sheri Kasprzak
New York, Sept. 12 - The Northside Independent School District of Texas sold $68,975,000 of series 2013 unlimited tax school building bonds, according to a pricing sheet.
The bonds (Aaa//AAA) were sold through Robert W. Baird & Co. and Southwest Securities Inc.
The serial bonds are due 2014 and the term bonds are due in 2035, 2038 and 2043. The 2014 bonds have a 2% coupon priced at 101.539 to yield 0.18% and the 2035 bonds have a 4.5% coupon priced at 98.219 to yield 4.63%. The 2038 bonds have a 5% coupon priced at 103.293 to yield 4.58% and the 2043 bonds have a 5% coupon priced at 102.734 to yield 4.65%.
Proceeds will be used to finance the construction, equipment, acquisition and renovation of school buildings, as well as the acquisition of land for new projects.
Issuer: | Northside Independent School District, Texas
|
Issue: | Series 2013 unlimited tax school building bonds
|
Amount: | $68,975,000
|
Type: | Negotiated
|
Underwriters: | Robert W. Baird & Co. and Southwest Securities Inc. (lead)
|
Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
Pricing date: | Sept. 12
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Settlement date: | Oct. 10
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$3,715,000 | 2014 | Serial | 2% | 101.539 | 0.18%
|
$10.7 million | 2035 | Term | 4.5% | 98.219 | 4.63%
|
$18,015,000 | 2038 | Term | 5% | 103.293 | 4.58%
|
$36,545,000 | 2043 | Term | 5% | 102.734 | 4.65%
|
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