By Sheri Kasprzak
New York, Aug. 27 – The San Antonio Independent School District of Texas priced $98.88 million of series 2014 variable-rate unlimited tax refunding bonds, according to a pricing sheet. The deal was downsized from $100 million.
The deal included $50 million of series 2014A bonds and $48.88 million of series 2014B bonds.
The 2014A bonds are due Aug. 1, 2044 and initially bear interest at 2% priced at 103.31 to yield 0.83%.
The 2014B bonds are due Aug. 1, 2044 and initially bear interest at 2% priced at 103.207 to yield 1.15%.
The bonds were sold on a negotiated basis. Baird & Co. was the senior manager for the 2014A bonds, and Citigroup Global Markets Inc. was the lead manager for the 2014B bonds.
Proceeds will be used to refund the district’s series A commercial paper notes.
| Issuer: | San Antonio Independent School District
|
| Issue: | Series 2014 variable-rate unlimited tax refunding bonds
|
| Amount: | $98.88 million
|
| Type: | Negotiated
|
| Underwriters: | Baird & Co. (lead for 2014A), Citigroup Global Markets Inc. (lead for 2014B)
|
| Pricing date: | Aug. 27
|
|
|
| $50 million series 2014A bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| Aug. 1, 2044 | Term | 2% | 103.31 | 0.83%
|
|
|
| $48.88 million series 2014B bonds
|
| Maturity | Type | Coupon | Price | Yield
|
| Aug. 1, 2044 | Term | 2% | 103.207 | 1.15%
|
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