Published on 7/15/2015 in the Prospect News Municipals Daily.
New Issue: Northside ISD, Texas, offers up $93.21 million of school building bonds
By Sheri Kasprzak
New York, July 15 – The Northside Independent School District of Texas sold $93,205,000 of series 2015 school building and refunding bonds, according to a pricing sheet. The deal size was cut from $96.48 million.
The bonds are due 2016 to 2035 with term bonds due in 2040 and 2045. The serial coupons range from 2.5% to 5%. The 2040 bonds have a 4% coupon priced at 100.162, and the 2045 bonds have a 4% coupon priced at 99.651.
The bonds (Aaa//AAA) were sold through Raymond James/Morgan Keegan.
Proceeds will be used to acquire, construct, renovate and improve school buildings in the district and to refund its series 2011 variable-rate unlimited tax refunding bonds.
| Issuer: | Northside Independent School District
|
| Issue: | Series 2015 school building and refunding bonds
|
| Amount: | $93,205,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan (lead), Estrada Hinojosa & Co. Inc., FTN Financial Capital Markets, Jefferies & Co. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
| Pricing date: | July 15
|
| Settlement date: | July 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,655,000 | 2016 | Serial | 3% | 102.753
|
| $2.49 million | 2017 | Serial | 3% | 104.488
|
| $2,565,000 | 2018 | Serial | 4% | 108.714
|
| $2,665,000 | 2019 | Serial | 4% | 110.597
|
| $2.77 million | 2020 | Serial | 5% | 116.722
|
| $2.91 million | 2021 | Serial | 5% | 118.241
|
| $3,055,000 | 2022 | Serial | 2.5% | 102.407
|
| $3.13 million | 2023 | Serial | 3% | 104.962
|
| $3,225,000 | 2024 | Serial | 3% | 104.353
|
| $3,325,000 | 2025 | Serial | 3% | 103.514
|
| $3,425,000 | 2026 | Serial | 5% | 120.013
|
| $3,595,000 | 2027 | Serial | 3.125% | 100.557
|
| $3,705,000 | 2028 | Serial | 3.25% | 100.084
|
| $3,825,000 | 2029 | Serial | 3.5% | 101.013
|
| $3.96 million | 2030 | Serial | 4% | 104.086
|
| $4,115,000 | 2031 | Serial | 4% | 103.943
|
| $4.28 million | 2032 | Serial | 4% | 103.515
|
| $4,455,000 | 2033 | Serial | 4% | 103.174
|
| $4.63 million | 2034 | Serial | 4% | 102.749
|
| $1,885,000 | 2035 | Serial | 4% | 102.327
|
| $10.62 million | 2040 | Term | 4% | 100.162
|
| $12.92 million | 2045 | Term | 4% | 99.651
|
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