Published on 4/21/2015 in the Prospect News Municipals Daily.
New Issue: Pasadena ISD, Texas, brings to market $50.92 million refunding bonds
By Sheri Kasprzak
New York, April 21 – The Pasadena Independent School District of Texas priced $50.92 million of series 2015 unlimited tax refunding bonds, according to a pricing sheet.
The bonds were sold through Piper Jaffray & Co.
The bonds are due 2017 to 2026 and 2034 to 2035 with 3% to 5% coupons.
Proceeds will be used to refund the district’s series 2006 and 2007 unlimited tax school building bonds.
| Issuer: | Pasadena Independent School District
|
| Issue: | Series 2015 unlimited tax refunding bonds
|
| Amount: | $50.92 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead), William Blair & Co. and Frost Bank (co-managers)
|
| Pricing date: | April 21
|
| Settlement date: | May 21
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,265,000 | 2017 | Serial | 5% | 107.43
|
| $4,565,000 | 2018 | Serial | 5% | 110.786
|
| $5,015,000 | 2019 | Serial | 5% | 113.713
|
| $5.78 million | 2020 | Serial | 5% | 116.33
|
| $6,455,000 | 2021 | Serial | 5% | 118.553
|
| $2.64 million | 2022 | Serial | 5% | 120.134
|
| $2.86 million | 2023 | Serial | 5% | 121.553
|
| $2.11 million | 2024 | Serial | 5% | 122.848
|
| $505,000 | 2025 | Serial | 3% | 106.792
|
| $1.58 million | 2026 | Serial | 4% | 113.998
|
| $1,045,000 | 2026 | Serial | 5% | 123.03
|
| $8.28 million | 2034 | Serial | 4% | 105.356
|
| $8.82 million | 2035 | Serial | 4% | 105.101
|
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