Published on 5/12/2016 in the Prospect News Municipals Daily.
New Issue: Texas Public Finance prices $157.62 million of G.O. refunding bonds
By Sheri Kasprzak
New York, May 12 – The Texas Public Finance Authority sold $157,615,000 of series 2016 general obligation refunding bonds, said a pricing sheet. The deal was downsized from $188,655,000.
The bonds (Aaa/AAA/AAA) were sold through Barclays.
The bonds are due 2020 to 2030 with 3% to 5% coupons.
Proceeds will be used to advance refund existing bonds.
| Issuer: | Texas Public Finance Authority
|
| Issue: | Series 2016 general obligation refunding bonds
|
| Amount: | $157,615,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), Academy Securities Inc., Drexel Hamilton LLC, Jefferies & Co. and Ramirez & Co. Inc. (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Pricing date: | May 11
|
| Settlement date: | May 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $19,725,000 | 2020 | Serial | 5% | 116.974
|
| $10.18 million | 2022 | Serial | 5% | 122.812
|
| $23.47 million | 2023 | Serial | 5% | 125.129
|
| $15,335,000 | 2024 | Serial | 5% | 127.182
|
| $15,165,000 | 2025 | Serial | 5% | 128.906
|
| $14,985,000 | 2026 | Serial | 5% | 130.195
|
| $5 million | 2027 | Serial | 4% | 119.019
|
| $9,805,000 | 2027 | Serial | 5% | 128.884
|
| $14,695,000 | 2028 | Serial | 3% | 106.887
|
| $14.65 million | 2029 | Serial | 3% | 105.091
|
| $14,605,000 | 2030 | Serial | 4% | 115.075
|
|
|
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