Published on 5/18/2011 in the Prospect News Municipals Daily.
New Issue: Texas details $129.54 million sale of water financial assistance bonds
By Sheri Kasprzak
New York, May 18 - The State of Texas released additional information Wednesday on its $129.54 million sale of series 2011A water financial assistance general obligation bonds, said a pricing sheet.
The bonds (Aaa/AA+/AAA) priced Tuesday through Jefferies & Co. with Bank of America Merrill Lynch, Citigroup Global Markets Inc., Coastal Securities Inc., Ramirez & Co. Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. LLC as the co-managers.
The bonds are due 2011 to 2030 with 1% to 5% coupons.
Proceeds will be used to provide financial assistance to political subdivisions for water infrastructure requirements.
| Issuer: | State of Texas
|
| Issue: | Series 2011A water financial assistance general obligation bonds
|
| Amount: | $129.54 million
|
| Type: | Negotiated
|
| Underwriters: | Jefferies & Co. (lead), Bank of America Merrill Lynch, Citigroup Global Markets Inc., Coastal Securities Inc., Ramirez & Co. Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | May 17
|
| Settlement date: | June 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.25 million | 2011 | Serial | 1% | 100.11
|
| $2.63 million | 2012 | Serial | 1% | 100.789
|
| $325,000 | 2013 | Serial | 2% | 103.088
|
| $6.435 million | 2013 | Serial | 4% | 107.319
|
| $3.15 million | 2014 | Serial | 2% | 103.513
|
| $3.61 million | 2014 | Serial | 4% | 109.677
|
| $1.88 million | 2015 | Serial | 2.5% | 105.181
|
| $4.88 million | 2015 | Serial | 4% | 111.206
|
| $1.06 million | 2016 | Serial | 3% | 107.841
|
| $5.7 million | 2016 | Serial | 4% | 112.774
|
| $1.9 million | 2017 | Serial | 3% | 107.235
|
| $4.86 million | 2017 | Serial | 5% | 118.812
|
| $2.155 million | 2018 | Serial | 4% | 112.802
|
| $4.605 million | 2018 | Serial | 5% | 119.401
|
| $6.76 million | 2019 | Serial | 5% | 119.424
|
| $6.76 million | 2020 | Serial | 5% | 119.481
|
| $6.76 million | 2021 | Serial | 5% | 119.382
|
| $6.76 million | 2022 | Serial | 5% | 119.012
|
| $6.76 million | 2023 | Serial | 5% | 118.528
|
| $6.76 million | 2024 | Serial | 5% | 117.758
|
| $6.76 million | 2025 | Serial | 5% | 116.727
|
| $6.76 million | 2026 | Serial | 5% | 115.964
|
| $6.755 million | 2027 | Serial | 5% | 115.417
|
| $6.755 million | 2028 | Serial | 5% | 114.73
|
| $6.755 million | 2029 | Serial | 5% | 113.917
|
| $350,000 | 2030 | Serial | 4% | 99.071
|
| $6.405 million | 2030 | Serial | 5% | 113.276
|
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