By Sheri Kasprzak
New York, May 6 - The Arlington Independent School District of Texas sold $56.155 million of series 2011 school building bonds, said a pricing sheet.
The deal included $42.5 million of series 2011A school building bonds and $13.655 million of series 2011B taxable school building bonds.
The 2011A bonds are due 2012 to 2016 and 2022 to 2031 with a term bond due in 2036. The serial coupons range from 3% to 5%. The 2036 bonds have a 5% coupon priced at 102.543.
The 2011B bonds are due Feb. 15, 2026 with a 4.616% coupon priced at par.
The bonds (Aa1/Aaa/AA/AAA/) were sold through Southwest Securities Inc. with Estrada Hinojosa & Co. Inc., Morgan Stanley & Co. Inc., RBC Capital Markets LLC, J.P. Morgan Securities LLC and Piper Jaffray & Co. as the co-managers.
Proceeds will be used to construct, equip and renovate school buildings.
| Issuer: | Arlington Independent School District
|
| Issue: | Series 2011 school building bonds
|
| Amount: | $56.155 million
|
| Type: | Negotiated
|
| Underwriters: | Southwest Securities Inc. (lead), Estrada Hinojosa & Co. Inc., Morgan Stanley & Co. Inc., RBC Capital Markets LLC, J.P. Morgan Securities LLC and Piper Jaffray & Co. (co-managers)
|
| Ratings: | Moody's: Aa1/Aaa
|
| Standard & Poor's: AA/AAA
|
| Pricing date: | May 5
|
| Settlement date: | June 7
|
|
|
| $42.5 million series 2011A
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.225 million | 2012 | Serial | 3% | 101.821
|
| $2.375 million | 2013 | Serial | 4% | 105.634
|
| $2.515 million | 2014 | Serial | 5% | 110.641
|
| $2.285 million | 2015 | Serial | 4% | 109.616
|
| $3.69 million | 2016 | Serial | 3% | 106.391
|
| $1.685 million | 2022 | Serial | 5% | 113.799
|
| $1.775 million | 2023 | Serial | 5% | 112.505
|
| $1.395 million | 2024 | Serial | 5% | 110.675
|
| $1.47 million | 2025 | Serial | 5% | 109.501
|
| $1.545 million | 2026 | Serial | 5% | 108.572
|
| $1.625 million | 2027 | Serial | 5% | 107.806
|
| $1.705 million | 2028 | Serial | 5% | 107.045
|
| $1.795 million | 2029 | Serial | 5% | 106.291
|
| $1.885 million | 2030 | Serial | 5% | 105.544
|
| $1.985 million | 2031 | Serial | 5% | 104.802
|
| $11.545 million | 2036 | Term | 5% | 102.543
|
|
|
| $13.655 million series 2011B
|
| Maturity | Type | Coupon | Price
|
| Feb. 15, 2026 | Term | 4.616% | 100
|
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