Published on 1/19/2012 in the Prospect News Municipals Daily.
New Issue: Texas prices $54.89 million water financial assistance G.O. bonds
By Sheri Kasprzak
New York, Jan. 19 - The State of Texas sold $54,885,000 of series 2012 water financial assistance general obligation bonds, according to a pricing sheet.
The deal included $39.93 million of series 2012A water infrastructure bonds and $14,955,000 of series 2012B waster infrastructure bonds.
Both the 2012A and 2012 B bonds are due 2012 to 2031 with 2% to 5% coupons.
The bonds (Aaa/AA+/AAA) were sold through Citigroup Global Markets Inc. and J.P. Morgan Securities LLC. The co-managers were Frost Bank, M.R. Beal & Co. and Samco Capital Markets Inc.
Proceeds will be used to fund water assistance projects at qualified political subdivisions.
| Issuer: | State of Texas
|
| Issue: | Series 2012 water financial assistance general obligation bonds
|
| Amount: | $54,885,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead); Frost Bank, M.R. Beal & Co. and Samco Capital Markets Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AAA
|
| Pricing date: | Jan. 19
|
| Settlement date: | Feb. 7
|
|
|
| $39.93 million series 2012A water infrastructure bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $990,000 | 2012 | Serial | 2% | 100.874
|
| $2.05 million | 2013 | Serial | 5% | 107.012
|
| $2.05 million | 2014 | Serial | 5% | 111.197
|
| $2.05 million | 2015 | Serial | 5% | 114.883
|
| $2.05 million | 2016 | Serial | 5% | 118.411
|
| $2.05 million | 2017 | Serial | 5% | 121.648
|
| $2.05 million | 2018 | Serial | 5% | 124.056
|
| $2.05 million | 2019 | Serial | 5% | 126.302
|
| $2.05 million | 2020 | Serial | 5% | 127.69
|
| $2.05 million | 2021 | Serial | 5% | 128.789
|
| $2.05 million | 2022 | Serial | 5% | 127.283
|
| $2.05 million | 2023 | Serial | 5% | 125.404
|
| $2.05 million | 2024 | Serial | 5% | 124.429
|
| $2.05 million | 2025 | Serial | 5% | 123.751
|
| $2.05 million | 2026 | Serial | 5% | 122.6
|
| $2.05 million | 2027 | Serial | 5% | 121.461
|
| $2.05 million | 2028 | Serial | 3.5% | 106.137
|
| $2.05 million | 2029 | Serial | 5% | 119.499
|
| $2.045 million | 2030 | Serial | 5% | 118.577
|
| $2.045 million | 2031 | Serial | 5% | 117.664
|
|
|
| $14.955 million series 2012B water infrastructure bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $370,000 | 2012 | Serial | 2% | 100.869
|
| $770,000 | 2013 | Serial | 2% | 102.574
|
| $770,000 | 2014 | Serial | 2% | 103.798
|
| $770,000 | 2015 | Serial | 2% | 104.571
|
| $770,000 | 2016 | Serial | 2% | 105.228
|
| $770,000 | 2017 | Serial | 2% | 105.652
|
| $770,000 | 2018 | Serial | 2% | 105.359
|
| $770,000 | 2019 | Serial | 3% | 112.084
|
| $770,000 | 2020 | Serial | 2% | 103.887
|
| $770,000 | 2021 | Serial | 3% | 111.341
|
| $770,000 | 2022 | Serial | 2% | 100.603
|
| $765,000 | 2023 | Serial | 2% | 98.581
|
| $765,000 | 2024 | Serial | 2.125% | 98.753
|
| $765,000 | 2025 | Serial | 2.375% | 100.126
|
| $765,000 | 2026 | Serial | 2.5% | 99.637
|
| $765,000 | 2027 | Serial | 2.625% | 99.432
|
| $765,000 | 2028 | Serial | 5% | 120.428
|
| $765,000 | 2029 | Serial | 5% | 119.499
|
| $765,000 | 2030 | Serial | 5% | 118.577
|
| $765,000 | 2031 | Serial | 5% | 117.664
|
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