Published on 12/3/2015 in the Prospect News Municipals Daily.
New Issue: Texas hits the market with $150 million of college student loan bonds
By Sheri Kasprzak
New York, Dec. 3 – The State of Texas priced $150 million of series 2015 college student loan bonds, according to a pricing sheet.
The bonds (Aaa/AAA) were sold competitively.
The bonds are due 2020 to 2034 with 4% to 5% coupons and yields from 1.51% to 3.28%.
Proceeds will be used to fund student loan programs.
| Issuer: | State of Texas
|
| Issue: | Series 2015 college student loan bonds
|
| Amount: | $150 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $7.2 million | 2020 | Serial | 5% | 115.541 | 1.51%
|
| $7,415,000 | 2021 | Serial | 5% | 117.578 | 1.71%
|
| $7,715,000 | 2022 | Serial | 5% | 119.354 | 1.88%
|
| $8.02 million | 2023 | Serial | 5% | 120.73 | 2.05%
|
| $8.42 million | 2024 | Serial | 5% | 121.628 | 2.23%
|
| $8,845,000 | 2025 | Serial | 5% | 122.711 | 2.35%
|
| $9,285,000 | 2026 | Serial | 5% | 120.985 | 2.53%
|
| $9.75 million | 2027 | Serial | 5% | 120.228 | 2.61%
|
| $10,235,000 | 2028 | Serial | 4% | 110.063 | 2.80%
|
| $10.75 million | 2029 | Serial | 4% | 108.829 | 2.94%
|
| $11,285,000 | 2030 | Serial | 4% | 107.698 | 3.07%
|
| $11.85 million | 2031 | Serial | 4% | 107.18 | 3.13%
|
| $12,445,000 | 2032 | Serial | 4% | 106.751 | 3.18%
|
| $13,065,000 | 2033 | Serial | 4% | 106.324 | 3.23%
|
| $13.72 million | 2034 | Serial | 4% | 105.899 | 3.28%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
