Published on 7/2/2014 in the Prospect News Municipals Daily.
New Issue: Greenville ISD, Texas, brings to market $64.32 million building bonds
By Sheri Kasprzak
New York, July 2 – The Greenville Independent School District of Texas sold $64,315,000 of series 2014 unlimited tax school building bonds, according to a pricing sheet.
The bonds (Aa3/AAA/) were sold through RBC Capital Markets LLC.
The bonds are due 2015 to 2039 with a term bond due in 2044. The serial coupons range from 2% to 5% with 0.16% to 3.34% yields. The 2044 bonds have a 5% coupon priced at 112.074 to yield 3.5%.
Proceeds will be used to construct, acquire, renovate and equip school buildings in the district, including a new Bowie Elementary School, the construction of a career and technology academy addition and renovations to the existing high school, various renovations district-wide and make technology upgrades at each campus.
| Issuer: | Greenville Independent School District
|
| Issue: | Series 2014 unlimited tax school building bonds
|
| Amount: | $64,315,000
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets LLC (lead), BOSC Inc., George K. Baum & Co. Inc. and Southwest Securities Inc. (co-managers)
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AAA
|
| Pricing date: | July 2
|
| Settlement date: | July 31
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $80,000 | 2015 | Serial | 2% | 100.99 | 0.16%
|
| $210,000 | 2016 | Serial | 2% | 102.639 | 0.28%
|
| $260,000 | 2017 | Serial | 2% | 103.676 | 0.54%
|
| $325,000 | 2018 | Serial | 2% | 103.822 | 0.90%
|
| $385,000 | 2019 | Serial | 2% | 103.343 | 1.24%
|
| $95,000 | 2020 | Serial | 2% | 102.272 | 1.57%
|
| $105,000 | 2021 | Serial | 2.25% | 102.452 | 1.85%
|
| $100,000 | 2022 | Serial | 2.5% | 102.916 | 2.08%
|
| $110,000 | 2023 | Serial | 3% | 105.636 | 2.27%
|
| $110,000 | 2024 | Serial | 4% | 113.385 | 2.42%
|
| $115,000 | 2025 | Serial | 5% | 120.722 | 2.54%
|
| $125,000 | 2026 | Serial | 5% | 119.785 | 2.64%
|
| $2.21 million | 2027 | Serial | 5% | 119.227 | 2.70%
|
| $2.32 million | 2028 | Serial | 5% | 118.212 | 2.81%
|
| $2.43 million | 2029 | Serial | 4% | 107.296 | 3.11%
|
| $2.54 million | 2030 | Serial | 5% | 116.844 | 2.96%
|
| $2.67 million | 2031 | Serial | 5% | 116.212 | 3.03%
|
| $2,805,000 | 2032 | Serial | 5% | 115.495 | 3.11%
|
| $2.95 million | 2033 | Serial | 5% | 114.961 | 3.17%
|
| $3.1 million | 2034 | Serial | 5% | 114.518 | 3.22%
|
| $10,295,000 | 2037 | Serial | 5% | 114.077 | 3.27%
|
| $3.79 million | 2038 | Serial | 5% | 113.725 | 3.31%
|
| $3,985,000 | 2039 | Serial | 5% | 113.463 | 3.34%
|
| $23.2 million | 2044 | Term | 5% | 112.074 | 3.50%
|
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