Published on 2/12/2015 in the Prospect News Municipals Daily.
New Issue: McLennan County Junior College, Texas, prices $52.77 million of bonds
By Sheri Kasprzak
New York, Feb. 12 – The McLennan County Junior College District of Texas sold $52,766,000 of series 2015 limited tax refunding bonds, said a pricing sheet
The bonds (/AA/AA) were sold through Raymond James/Morgan Keegan.
The bonds are due 2015 and 2017 to 2032 with 2% to 5% with 0.25% to 3.35% yields.
Proceeds will be used to refund the district’s series 2007 limited tax bonds.
| Issuer: | McLennan County Junior College District
|
| Issue: | Series 2015 limited tax refunding bonds
|
| Amount: | $52,766,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan (lead), Coastal Securities Inc. and First Southwest Co. (co-managers)
|
| Ratings: | Standard & Poor’s: AA
|
| Fitch: AA
|
| Pricing date: | Feb. 11
|
| Settlement date: | March 10
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $345,000 | 2015 | Serial | 3% | 101.182 | 0.25%
|
| $1,625,000 | 2017 | Serial | 3% | 105.408 | 0.75%
|
| $1.68 million | 2018 | Serial | 2% | 103.329 | 1.01%
|
| $1,715,000 | 2019 | Serial | 2% | 103.397 | 1.21%
|
| $3.17 million | 2020 | Serial | 5% | 118.416 | 1.46%
|
| $3.33 million | 2021 | Serial | 5% | 119.885 | 1.72%
|
| $3.5 million | 2022 | Serial | 5% | 120.694 | 1.99%
|
| $2.18 million | 2024 | Serial | 5% | 122.202 | 2.36%
|
| $1.06 million | 2025 | Serial | 4% | 111.818 | 2.58%
|
| $4,255,000 | 2026 | Serial | 5% | 119.678 | 2.63%
|
| $4,465,000 | 2027 | Serial | 5% | 118.576 | 2.75%
|
| $4,685,000 | 2028 | Serial | 3% | 97.829 | 3.20%
|
| $4.83 million | 2029 | Serial | 5% | 117.216 | 2.90%
|
| $5.07 million | 2030 | Serial | 5% | 116.767 | 2.95%
|
| $5.32 million | 2031 | Serial | 4% | 105.216 | 3.35%
|
| $5,535,000 | 2032 | Serial | 5% | 115.874 | 3.05%
|
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