Published on 7/11/2013 in the Prospect News Municipals Daily.
New Issue: Greenwood Independent School District, Texas, sells $50.19 million deal
By Sheri Kasprzak
New York, July 11 - The Greenwood Independent School District of Texas priced $50,185,000 of series 2013 unlimited tax school building bonds, according to a pricing sheet.
The bonds (/A+/A+) were sold through Raymond James/Morgan Keegan.
The bonds are due 2014 to 2033 with term bonds due in 2038 and 2043. The serial coupons range from 2% to 5% and yields range from 0.35% to 4.21%. The 2038 bonds have a 5% coupon priced at 105.021 to yield 4.29%. The 2043 bonds have a 4.5% coupon priced at 98.823 to yield 4.7% and a 5% coupon priced at 104.295 to yield 4.39%.
Proceeds will be used to construct, acquire, equip and renovate school facilities in the district.
| Issuer: | Greenwood Independent School District
|
| Issue: | Series 2013 unlimited tax school building bonds
|
| Amount: | $50,185,000
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan (lead), RBC Capital Markets LLC, Southwest Securities Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | July 11
|
| Settlement date: | Aug. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $220,000 | 2014 | Serial | 2% | 100.855 | 0.35%
|
| $350,000 | 2015 | Serial | 3% | 103.516 | 0.67%
|
| $420,000 | 2016 | Serial | 3% | 104.835 | 1.05%
|
| $435,000 | 2017 | Serial | 4% | 108.934 | 1.39%
|
| $455,000 | 2018 | Serial | 4% | 109.781 | 1.74%
|
| $475,000 | 2019 | Serial | 4% | 110.127 | 2.05%
|
| $495,000 | 2020 | Serial | 4% | 109.982 | 2.34%
|
| $510,000 | 2021 | Serial | 4% | 109.434 | 2.61%
|
| $530,000 | 2022 | Serial | 4% | 108.407 | 2.88%
|
| $555,000 | 2023 | Serial | 5% | 114.613 | 3.04%
|
| $585,000 | 2024 | Serial | 5% | 113.329 | 3.20%
|
| $615,000 | 2025 | Serial | 5% | 112.061 | 3.36%
|
| $880,000 | 2026 | Serial | 5% | 111.044 | 3.49%
|
| $925,000 | 2027 | Serial | 5% | 110.038 | 3.62%
|
| $970,000 | 2028 | Serial | 5% | 109.119 | 3.74%
|
| $1,935,000 | 2029 | Serial | 5% | 108.36 | 3.84%
|
| $2,035,000 | 2030 | Serial | 5% | 107.832 | 3.91%
|
| $2,135,000 | 2031 | Serial | 5% | 107.308 | 3.98%
|
| $2,245,000 | 2032 | Serial | 5% | 106.86 | 4.04%
|
| $2,355,000 | 2033 | Serial | 4.5% | 102.057 | 4.21%
|
| $13.68 million | 2038 | Term | 5% | 105.021 | 4.29%
|
| $14.38 million | 2043 | Term | 4.5% | 96.823 | 4.70%
|
| $3 million | 2043 | Term | 5% | 104.295 | 4.39%
|
© 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.
