By Sheri Kasprzak
New York, Feb. 16 - Texas priced $113.58 million in series 2010 general obligation college student loan bonds on Thursday, according to an official statement.
The bonds (Aa1/AA+/) were sold on a negotiated basis with Wells Fargo Securities Inc. as the senior manager. The co-managers were Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. LLC and Southwest Securities Inc.
The bonds are due 2014 to 2030 with coupons from 3% to 5% and yields from 1.3% to 4.07%. The sale also included a term bond due 2034, which has a 5% coupon to yield 4.28%.
Proceeds will be used to fund student loan programs throughout the state.
Issuer: | Texas
|
Issue: | Series 2010 general obligation college student loan bonds
|
Amount: | $113.58 million
|
Type: | Negotiated
|
Underwriters: | Wells Fargo Securities Inc. (lead); Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. LLC and Southwest Securities Inc. (co-managers)
|
Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
Pricing date: | Feb. 11
|
Settlement date: | Feb. 25
|
|
Maturity | Type | Coupon | Yield
|
2014 | Serial | 5% | 1.30%
|
2015 | Serial | 4% | 1.70%
|
2016 | Serial | 3% | 2.16%
|
2016 | Serial | 5% | 2.16%
|
2017 | Serial | 4.5% | 2.49%
|
2017 | Serial | 5% | 2.49%
|
2018 | Serial | 4% | 2.77%
|
2019 | Serial | 4% | 3.00%
|
2020 | Serial | 5% | 3.13%
|
2021 | Serial | 5% | 3.26%
|
2022 | Serial | 5% | 3.37%
|
2023 | Serial | 5% | 3.46%
|
2024 | Serial | 5% | 3.55%
|
2025 | Serial | 5% | 3.64%
|
2026 | Serial | 5% | 3.73%
|
2027 | Serial | 5% | 3.82%
|
2028 | Serial | 5% | 3.90%
|
2029 | Serial | 5% | 3.99%
|
2030 | Serial | 5% | 4.07%
|
2034 | Term | 5% | 4.28%
|
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