By Cristal Cody
Springdale, Ark., Feb. 12 - Texas City Independent School District priced $54.565 million unlimited tax school building bonds with a 4.35% true interest cost.
The bonds priced with coupons from 3.5% to 4.5% with yields from 2% to 4.62%, according to the final pricing list released Tuesday.
Southwest Securities led the negotiated sale, with UBS Investment Bank, Morgan Keegan & Co., First Southwest Co. and Banc of America Securities LLC as co-managers.
The bonds have serial maturities from 2009 to 2030.
The sale is the first installment of $122.51 million bond offering authorized last year by voters. Proceeds will be used to acquire, construct and equip school buildings and renovate district facilities.
Issuer: | Texas City Independent School District
|
Issue: | Unlimited tax school building bonds
|
Type: | Negotiated
|
Amount: | $54.565 million
|
Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
Underwriters: | Southwest Securities (lead)
|
Pricing date: | Feb. 11
|
|
Maturity | Type | Coupon | Yield | Price
|
2009 | Serial | 3.5% | 2.00% | 102.07
|
2010 | Serial | 3.5% | 2.18% | 103.079
|
2011 | Serial | 3.5% | 2.43% | 103.478
|
2012 | Serial | 3.5% | 2.65% | 103.512
|
2013 | Serial | 4% | 2.82% | 105.878
|
2014 | Serial | 4% | 2.97% | 105.968
|
2015 | Serial | 4% | 3.13% | 105.710
|
2016 | Serial | 4% | 3.28% | 105.251
|
2017 | Serial | 4% | 3.42% | 104.629
|
2018 | Serial | 4% | 3.71% | 103.085
|
2019 | Serial | 4% | 3.77% | 101.804
|
2020 | Serial | 4% | 3.94% | 100.464
|
2021 | Serial | 4% | 4.07% | 99.279
|
2022 | Serial | 4% | 4.16% | 98.275
|
2023 | Serial | 5% | 4.06% | 107.286
|
2024 | Serial | 5% | 4.21% | 106.081
|
2025 | Serial | 5% | 4.21% | 106.081
|
2026 | Serial | 4.375% | 4.46% | 98.936
|
2027 | Serial | 4.5% | 4.63% | 98.332
|
2028 | Serial | 4.5% | 4.626% | 98.332
|
2029 | Serial | 4.5% | 4.623% | 98.332
|
2030 | Serial | 4.5% | 4.62% | 98.332
|
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