Published on 9/14/2011 in the Prospect News Municipals Daily.
New Issue: Texas brings $92.23 million of water financial assistance G.O. bonds
By Sheri Kasprzak
New York, Sept. 14 - The State of Texas priced $92.23 million of series 2011B water financial assistance general obligation bonds, said a pricing sheet.
The bonds (Aaa/AA+/AAA) were sold through Piper Jaffray & Co. with Fidelity Capital Markets LLC, Morgan Stanley & Co. LLC, Loop Capital Markets LLC and Raymond James & Associates Inc. as the co-managers.
The bonds are due 2012 to 2031 with 2% to 5% coupons.
Proceeds will be used to provide grants to local political subdivisions for water infrastructure improvements.
| Issuer: | State of Texas
|
| Issue: | Series 2011B water financial assistance general obligation bonds
|
| Amount: | $92.225 million
|
| Type: | Negotiated
|
| Underwriters: | Piper Jaffray & Co. (lead), Fidelity Capital Markets LLC, Morgan Stanley & Co. LLC, Loop Capital Markets LLC and Raymond James & Associates Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | Sept. 14
|
| Settlement date: | Oct. 4
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $500,000 | 2012 | Serial | 2% | 101.399
|
| $500,000 | 2013 | Serial | 2% | 102.924
|
| $500,000 | 2014 | Serial | 2% | 104.259
|
| $1 million | 2015 | Serial | 3% | 108.783
|
| $1 million | 2016 | Serial | 3% | 109.347
|
| $1 million | 2017 | Serial | 3% | 109.506
|
| $2 million | 2018 | Serial | 3% | 109.016
|
| $170,000 | 2019 | Serial | 4% | 115.357
|
| $4.81 million | 2019 | Serial | 5% | 122.602
|
| $355,000 | 2020 | Serial | 4% | 114.969
|
| $4.875 million | 2020 | Serial | 5% | 122.975
|
| $1 million | 2021 | Serial | 4% | 114.871
|
| $4.485 million | 2021 | Serial | 5% | 123.619
|
| $5.75 million | 2022 | Serial | 5% | 121.655
|
| $6.035 million | 2023 | Serial | 5% | 119.633
|
| $6.34 million | 2024 | Serial | 3% | 98.424
|
| $750,000 | 2025 | Serial | 4% | 106.174
|
| $5.78 million | 2025 | Serial | 5% | 116.35
|
| $6.85 million | 2026 | Serial | 5% | 115.158
|
| $8 million | 2027 | Serial | 5% | 114.161
|
| $6.3 million | 2028 | Serial | 3.625% | 97.835
|
| $2.7 million | 2029 | Serial | 3.75% | 98.081
|
| $5 million | 2029 | Serial | 5% | 112.375
|
| $1.75 million | 2030 | Serial | 3.875% | 98.483
|
| $5.5 million | 2030 | Serial | 5% | 111.582
|
| $9.305 million | 2031 | Serial | 5% | 110.795
|
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