By Sheri Kasprzak
New York, April 13 - The Odessa Junior College District of Texas sold Wednesday $66.325 million of series 2011 limited tax bonds, said a pricing sheet.
The bonds (AA-/AA-) were sold through senior manager Morgan Keegan & Co. Inc. with Edward Jones & Co. Inc., Raymond James & Associates Inc. and Wells Fargo Securities LLC as the co-managers.
The bonds are due 2014 to 2027 and 2029 to 2032 with term bonds due in 2037 and 2041. The serial coupons range from 2% to 5.25%. The 2037 bonds have a 5.25% coupon priced at 97.213. The 2041 bonds have a 5.375% coupon priced at 97.581.
Proceeds will be used to construct, acquire, design and renovate junior colleges throughout the district.
| Issuer: | Odessa Junior College District
|
| Issue: | Series 2011 limited tax bonds
|
| Amount: | $66.325 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. (lead), Edward Jones & Co. Inc., Raymond James & Associates Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | April 13
|
| Settlement date: | April 21
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $120,000 | 2014 | Serial | 2% | 101.448
|
| $1.185 million | 2015 | Serial | 2.25% | 101.027
|
| $1.395 million | 2016 | Serial | 3% | 103.026
|
| $1.44 million | 2017 | Serial | 4% | 107.019
|
| $1.495 million | 2018 | Serial | 3.5% | 102.071
|
| $1.55 million | 2019 | Serial | 4% | 103.066
|
| $1.61 million | 2020 | Serial | 4% | 101.317
|
| $1.675 million | 2021 | Serial | 4% | 100
|
| $1.74 million | 2022 | Serial | 5.25% | NRO
|
| $1.835 million | 2023 | Serial | 5.25% | NRO
|
| $1.93 million | 2024 | Serial | 5.25% | NRO
|
| $2.03 million | 2025 | Serial | 5.25% | NRO
|
| $2.135 million | 2026 | Serial | 4.625% | 98.217
|
| $2.235 million | 2027 | Serial | 4.75% | 98.542
|
| $4.8 million | 2029 | Serial | 5% | 100
|
| $2.58 million | 2030 | Serial | 5% | 98.773
|
| $2.71 million | 2031 | Serial | 5% | 98.24
|
| $2.845 million | 2032 | Serial | 5.125% | 98.652
|
| $16.615 million | 2037 | Term | 5.25% | 97.213
|
| $16.535 million | 2041 | Term | 5.375% | 97.581
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
