Published on 12/2/2014 in the Prospect News Municipals Daily.
New Issue: Texas comes to market with $68.13 million of student loan G.O. bonds
By Sheri Kasprzak
New York, Dec. 2 – The State of Texas sold $68.13 million of series 2014 student loan general obligation bonds, according to a pricing sheet. The deal was upsized from $67.85 million.
The bonds (Aaa/AAA/) were sold competitively.
The bonds are due 2019 to 2030 with 4% to 6% coupons and yields from 1.27% to 3.21%.
Proceeds will be used to finance student loans for qualified undergraduate or graduate students at public higher education institutions within the state.
| Issuer: | State of Texas
|
| Issue: | Series 2014 college student loan general obligation bonds
|
| Amount: | $68.13 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 18
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,905,000 | 2019 | Serial | 6% | 121.154 | 1.27%
|
| $2.32 million | 2020 | Serial | 6% | 123.433 | 1.62%
|
| $6,635,000 | 2021 | Serial | 6% | 125.174 | 1.93%
|
| $6.9 million | 2022 | Serial | 6% | 126.681 | 2.18%
|
| $5.18 million | 2023 | Serial | 6% | 127.608 | 2.43%
|
| $5.49 million | 2024 | Serial | 6% | 129.46 | 2.53%
|
| $5,825,000 | 2025 | Serial | 6% | 128.277 | 2.65%
|
| $6.17 million | 2026 | Serial | 5% | 119.087 | 2.73%
|
| $6.48 million | 2027 | Serial | 5% | 118.715 | 2.77%
|
| $6.8 million | 2028 | Serial | 4% | 107.433 | 3.10%
|
| $7,075,000 | 2029 | Serial | 4% | 106.918 | 3.16%
|
| $7.35 million | 2030 | Serial | 4% | 106.49 | 3.21%
|
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