Published on 6/25/2014 in the Prospect News Municipals Daily.
New Issue: Arlington ISD, Texas, sells $159.49 million school bonds
By Sheri Kasprzak
New York, June 25 – The Arlington Independent School District of Texas sold $159,485,000 of series 2014A unlimited tax school building bonds, according to a pricing sheet.
The bonds (Aa1/AA/) were sold through Raymond James/Morgan Keegan.
The bonds are due 2015 to 2035 with a term bond due in 2039. The serial coupons range from 1% to 5%. The 2039 bonds have a 5% coupon priced at 113.202.
Proceeds will be used to construct, equip and furnish school buildings in the district, as well as to purchase school sites and buses.
| Issuer: | Arlington Independent School District
|
| Issue: | Series 2014A unlimited tax school building bonds
|
| Amount: | $159,485,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan (lead), BOSC Inc., RBC Capital Markets LLC, Stephens Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA
|
| Pricing date: | June 25
|
| Settlement date: | July 29
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,365,000 | 2015 | Serial | 1% | 100.487
|
| $3,425,000 | 2016 | Serial | 3% | 104.204
|
| $3,545,000 | 2017 | Serial | 4% | 108.678
|
| $3,695,000 | 2018 | Serial | 5% | 114.27
|
| $3,875,000 | 2019 | Serial | 5% | 116.708
|
| $730,000 | 2020 | Serial | 3% | 107.399
|
| $985,000 | 2021 | Serial | 3% | 106.802
|
| $1,015,000 | 2022 | Serial | 3% | 106.104
|
| $1,055,000 | 2023 | Serial | 3% | 105.401
|
| $6.97 million | 2024 | Serial | 5% | 102.062
|
| $6,945,000 | 2025 | Serial | 5% | 119.04
|
| $7,295,000 | 2026 | Serial | 5% | 118.281
|
| $6.83 million | 2027 | Serial | 5% | 117.527
|
| $7,145,000 | 2028 | Serial | 4% | 107.175
|
| $7,435,000 | 2029 | Serial | 4% | 106.554
|
| $7,735,000 | 2030 | Serial | 4% | 105.938
|
| $8,055,000 | 2031 | Serial | 4% | 105.402
|
| $8.38 million | 2032 | Serial | 4% | 104.945
|
| $8,725,000 | 2033 | Serial | 4% | 104.491
|
| $9,125,000 | 2034 | Serial | 5% | 114.245
|
| $9,595,000 | 2035 | Serial | 5% | 113.923
|
| $43.56 million | 2039 | Term | 5% | 113.202
|
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