Published on 9/26/2014 in the Prospect News Municipals Daily.
New Issue: Frenship ISD, Texas, brings to market $65.24 million of refunding bonds
By Sheri Kasprzak
New York, Sept. 26 – The Frenship Independent School District of Texas sold $65.24 million of series 2014 unlimited tax refunding bonds, according to a pricing sheet.
The bonds were sold through BOSC Inc.
The bonds are due 2015 and 2018 to 2032 with 0.32% to 5% coupons and 0.16% to 3.26% yields.
Proceeds will be used to refund a portion of the district’s series 2007 unlimited tax school building bonds.
| Issuer: | Frenship Independent School District
|
| Issue: | Series 2014 unlimited tax refunding bonds
|
| Amount: | $65.24 million
|
| Type: | Negotiated
|
| Underwriters: | BOSC Inc. (lead), Raymond James/Morgan Keegan, RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers)
|
| Pricing date: | Sept. 25
|
| Settlement date: | Oct. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,095,000 | 2015 | Serial | 0.32% | 100.047 | 0.16%
|
| $2,435,000 | 2018 | Serial | 2% | 103.83 | 0.82%
|
| $2.51 million | 2019 | Serial | 2% | 103.638 | 1.13%
|
| $2.63 million | 2020 | Serial | 5% | 118.092 | 1.44%
|
| $2.81 million | 2021 | Serial | 5% | 119.493 | 1.72%
|
| $2.98 million | 2022 | Serial | 5% | 120.272 | 2.00%
|
| $3.18 million | 2023 | Serial | 5% | 120.957 | 2.22%
|
| $3,355,000 | 2024 | Serial | 4% | 113.974 | 2.32%
|
| $4.36 million | 2025 | Serial | 5% | 121.64 | 2.39%
|
| $4,615,000 | 2026 | Serial | 5% | 120.805 | 2.48%
|
| $4,885,000 | 2027 | Serial | 5% | 120.345 | 2.53%
|
| $5.15 million | 2028 | Serial | 4% | 108.819 | 2.91%
|
| $5.39 million | 2029 | Serial | 4% | 107.888 | 3.02%
|
| $6,165,000 | 2030 | Serial | 4% | 106.967 | 3.13%
|
| $6.68 million | 2031 | Serial | 4% | 106.303 | 3.21%
|
| $7 million | 2032 | Serial | 4% | 105.89 | 3.26%
|
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