Published on 6/19/2015 in the Prospect News Municipals Daily.
New Issue: Arlington Higher Education, Texas, sells $106.75 million school bonds
By Sheri Kasprzak
New York, June 19 – The Arlington Higher Education Finance Corp. of Texas priced $106,745,000 of series 2015 education revenue refunding bonds for Harmony Public Schools, according to a pricing sheet.
The bonds (/BBB) were sold through senior managers Raymond James/Morgan Keegan and Jefferies & Co.
The bonds are due 2016 to 2041 with 2% to 5% coupons.
Proceeds will be used to refund the corporation’s series 2010A and 2011A revenue bonds issued for the schools.
| Issuer: | Arlington Higher Education Finance Corp./Harmony Public Schools
|
| Issue: | Series 2015 education revenue refunding bonds
|
| Amount: | $106,745,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and Jefferies & Co. (lead)
|
| Rating: | Standard & Poor’s: BBB
|
| Pricing date: | June 19
|
| Settlement date: | June 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.37 million | 2016 | Serial | 2% | 100.96
|
| $450,000 | 2017 | Serial | 3% | 103.379
|
| $465,000 | 2018 | Serial | 3% | 104.346
|
| $480,000 | 2019 | Serial | 4% | 108.418
|
| $500,000 | 2020 | Serial | 4% | 109.347
|
| $515,000 | 2021 | Serial | 4% | 109.695
|
| $540,000 | 2022 | Serial | 4% | 109.552
|
| $560,000 | 2023 | Serial | 5% | 116.5
|
| $590,000 | 2024 | Serial | 5% | 117.085
|
| $615,000 | 2025 | Serial | 5% | 117.34
|
| $650,000 | 2026 | Serial | 5% | 116.155
|
| $680,000 | 2027 | Serial | 5% | 115.253
|
| $5,315,000 | 2028 | Serial | 5% | 114.895
|
| $5.59 million | 2029 | Serial | 5% | 114.094
|
| $5.87 million | 2030 | Serial | 5% | 113.299
|
| $6,175,000 | 2031 | Serial | 5% | 112.686
|
| $6.5 million | 2032 | Serial | 5% | 112.25
|
| $6,835,000 | 2033 | Serial | 5% | 111.644
|
| $7.18 million | 2034 | Serial | 5% | 111.299
|
| $7.55 million | 2035 | Serial | 5% | 110.955
|
| $7,935,000 | 2036 | Serial | 5% | 110.613
|
| $8,335,000 | 2037 | Serial | 5% | 110.272
|
| $8,765,000 | 2038 | Serial | 5% | 110.102
|
| $9.21 million | 2039 | Serial | 5% | 109.762
|
| $9.68 million | 2040 | Serial | 5% | 109.509
|
| $4.39 million | 2041 | Serial | 5% | 109.172
|
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