By Sheri Kasprzak
New York, April 15 - The Beaumont Independent School District in Texas priced $118.488 million in series 2009 school building revenue bonds, said a sellside source close to the deal.
The bonds (//AA-) were sold on a negotiated basis with Southwest Securities Inc. as the senior manager. The financial adviser was RBC Capital Markets Corp.
The bonds are due 2014 to 2031 with coupons from 3% to 5.25% and yields from 2.57% to 5.2%. The deal also includes term bonds due 2034 and 2038. The 2034 bonds have a 5% coupon to yield 5.23% and the 2038 bond have a 5% coupon to yield 5.25%.
The proceeds will be used to construct new schools and facilities, as well as to renovate and expand existing facilities and to acquire new building sites.
| Issuer: | Beaumont Independent School District
|
| Issue: | Series 2009 school building revenue bonds
|
| Amount: | $118.488 million
|
| Type: | Negotiated
|
| Underwriter: | Southwest Securities Inc.
|
| Ratings: | Fitch: AA-
|
| Pricing date: | April 14
|
| Settlement date: | May 13
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2014 | Serial | 3% | 2.57% | 101.910
|
| 2015 | Serial | 3% | 2.84% | 100.841
|
| 2016 | Serial | 3% | 3.05% | 99.693
|
| 2017 | Serial | 4% | 3.31% | 104.681
|
| 2018 | Serial | 4% | 3.55% | 103.023
|
| 2019 | Serial | 4% | 3.78% | 101.462
|
| 2020 | Serial | 5% | 4.01% | 106.536
|
| 2021 | Serial | 5% | 4.17% | 105.445
|
| 2022 | Serial | 5% | 4.35% | 104.233
|
| 2023 | Serial | 5% | 4.50% | 103.236
|
| 2024 | Serial | 5% | 4.65% | 102.249
|
| 2025 | Serial | 5% | 4.75% | 101.598
|
| 2026 | Serial | 5% | 4.86% | 100.888
|
| 2027 | Serial | 5% | 4.92% | 100.503
|
| 2028 | Serial | 5.25% | 5.00% | 101.582
|
| 2029 | Serial | 5.25% | 5.07% | 101.134
|
| 2030 | Serial | 5.125% | 5.15% | 99.675
|
| 2031 | Serial | 5.125% | 5.20% | 99.021
|
| 2034 | Term | 5% | 5.23% | 96.819
|
| 2038 | Term | 5% | 5.25% | 96.302
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
