By Sheri Kasprzak
New York, Aug. 10 - The Austin Independent School District of Texas sold $100 million of series 2011 unlimited tax refunding bonds, according to a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold through senior manager RBC Capital Markets LLC. The co-managers were Jefferies & Co., Stephens Inc., Fidelity Capital Markets LLC and Robert W. Baird & Co. Inc.
The bonds are due 2012 to 2032 with a term bond due in 2036. The serial coupons range from 2% to 5%. The 2036 bonds have a 5% coupon priced at 105.971.
Proceeds will be used to redeem the district's outstanding commercial paper notes.
| Issuer: | Austin Independent School District
|
| Issue: | Series 2011 unlimited tax refunding bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC (lead), Jefferies & Co., Stephens Inc., Fidelity Capital Markets LLC and Robert W. Baird & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Aug. 8
|
| Settlement date: | Aug. 31
|
|
|
| Maturity | Type | Coupon | Price
|
| 2012 | Serial | 2% | 101.62
|
| 2013 | Serial | 2% | 103.012
|
| 2014 | Serial | 3% | 107.048
|
| 2015 | Serial | 3% | 108.465
|
| 2016 | Serial | 3% | 108.868
|
| 2017 | Serial | 4% | 114.163
|
| 2018 | Serial | 5% | 120.145
|
| 2019 | Serial | 5% | 120.32
|
| 2020 | Serial | 5% | 120.578
|
| 2021 | Serial | 5% | 118.988
|
| 2022 | Serial | 3.5% | 105.245
|
| 2023 | Serial | 5% | 115.289
|
| 2024 | Serial | 5% | 114.114
|
| 2025 | Serial | 5% | 113.119
|
| 2026 | Serial | 5% | 112.379
|
| 2027 | Serial | 4% | 104.032
|
| 2027 | Serial | 5% | 111.644
|
| 2028 | Serial | 5% | 110.916
|
| 2029 | Serial | 5% | 110.193
|
| 2030 | Serial | 5% | 109.475
|
| 2031 | Serial | 5% | 108.764
|
| 2032 | Serial | 5% | 108.057
|
| 2036 | Term | 5% | 105.971
|
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