Published on 1/9/2013 in the Prospect News Municipals Daily.
New Issue: Texas State University prices $87.06 million revenue, refunding bonds
By Sheri Kasprzak
New York, Jan. 9 - The Texas State University System sold $87.06 million of series 2013 revenue financing system revenue and refunding bonds, according to a pricing sheet.
The bonds (Aa2//AA) were sold through Barclays.
The bonds are due 2013 to 2033 with term bonds due in 2038 and 2042. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 116.259 and the 2042 bonds have a 5% coupon priced at 115.696.
Proceeds will be used to acquire, purchase, construct, improve, renovate, enlarge or equip property, buildings, facilities, roads and related infrastructure for members of the revenue financing system, to refund a portion of the system's outstanding series 2004 revenue and refunding bonds and to fund certain capitalized interest for the bonds.
Issuer: | Texas State University System
|
Issue: | Series 2013 revenue financing system revenue and refunding bonds
|
Amount: | $87.06 million
|
Type: | Negotiated
|
Underwriters: | Barclays (lead), Jefferies & Co., Raymond James/Morgan Keegan, Piper Jaffray & Co., Siebert Brandford Shank & Co., LLC and Wells Fargo Securities LLC (co-managers)
|
Ratings: | Moody's: Aa2
|
Fitch: AA
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Pricing date: | Jan. 9
|
Settlement date: | Feb. 2
|
|
Amount | Maturity | Type | Coupon | Price
|
$940,000 | 2013 | Serial | 2% | 100.164
|
$795,000 | 2014 | Serial | 2% | 101.796
|
$2,975,000 | 2015 | Serial | 2% | 103.201
|
$2.96 million | 2016 | Serial | 2% | 103.968
|
$2.26 million | 2017 | Serial | 2% | 104.408
|
$2.31 million | 2018 | Serial | 4% | 114.694
|
$2,815,000 | 2019 | Serial | 4% | 116.463
|
$2.92 million | 2020 | Serial | 4% | 117.493
|
$3,045,000 | 2021 | Serial | 5% | 125.534
|
$3,205,000 | 2022 | Serial | 5% | 126.437
|
$3.36 million | 2023 | Serial | 5% | 127.185
|
$3,535,000 | 2024 | Serial | 5% | 125.626
|
$3.7 million | 2025 | Serial | 5% | 124.598
|
$3,895,000 | 2026 | Serial | 5% | 123.683
|
$3,355,000 | 2027 | Serial | 5% | 122.976
|
$3,515,000 | 2028 | Serial | 4% | 110.669
|
$3.65 million | 2029 | Serial | 4% | 109.837
|
$3,795,000 | 2030 | Serial | 3% | 98.287
|
$3.92 million | 2031 | Serial | 4% | 108.74
|
$4,075,000 | 2032 | Serial | 4% | 108.196
|
$2.59 million | 2033 | Serial | 4% | 107.655
|
$12.06 million | 2038 | Term | 5% | 116.259
|
$11,385,000 | 2042 | Term | 5% | 115.696
|
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