Published on 7/11/2013 in the Prospect News Municipals Daily.
New Issue: Judson Independent School District, Texas, prices $90.01 million bonds
By Sheri Kasprzak
New York, July 11 - The Judson Independent School District of Texas sold $90,005,000 of series 2013 unlimited tax school building bonds, said a pricing sheet.
The bonds (Aa2//AA-) were sold through RBC Capital Markets LLC.
The sale includes $11.76 million of series 2013A refunding bonds and $78,245,000 of series 2013 school building bonds.
The 2013A bonds are due 2016 to 2024 with 4% to 5% coupons and 1.03% to 3.34% yields.
The 2013 school bonds are due 2014 to 2035 with a term bond due in 2039. The serial coupons range from 2% to 5% with 0.30% 4.17% yields. The 2039 bonds have a 5% coupon and priced at 104.912 to yield 4.30%.
Proceeds will be used for school construction and to refund some maturities of the district's series 2005 bonds for a net present value savings with no extension of final maturity.
| Issuer: | Judson Independent School District
|
| Issue: | Series 2013 unlimited tax school building bonds
|
| Amount: | $90,005,000
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA-
|
| Pricing date: | July 11
|
| Settlement date: | Aug. 20
|
|
|
| $11.76 million series 2013A refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $390,000 | 2016 | Serial | 4% | 107.158 | 1.03%
|
| $400,000 | 2017 | Serial | 4% | 108.719 | 1.40%
|
| $425,000 | 2018 | Serial | 4% | 109.585 | 1.75%
|
| $795,000 | 2019 | Serial | 5% | 114.796 | 2.11%
|
| $1,085,000 | 2020 | Serial | 5% | 115.443 | 2.40%
|
| $1.5 million | 2021 | Serial | 5% | 115.421 | 2.70%
|
| $1.93 million | 2022 | Serial | 5% | 115.066 | 2.97%
|
| $2,375,000 | 2023 | Serial | 5% | 113.705 | 3.14%
|
| $2.86 million | 2024 | Serial | 5% | 112.128 | 3.34%
|
|
|
| $78,245,000 series 2013 school building bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $185,000 | 2014 | Serial | 2% | 100.759 | 0.30%
|
| $250,000 | 2016 | Serial | 4% | 107.536 | 0.88%
|
| $450,000 | 2017 | Serial | 4% | 109.249 | 1.25%
|
| $705,000 | 2018 | Serial | 4% | 110.262 | 1.60%
|
| $725,000 | 2019 | Serial | 4% | 110.49 | 1.96%
|
| $980,000 | 2020 | Serial | 5% | 116.547 | 2.23%
|
| $1.33 million | 2021 | Serial | 5% | 116.668 | 2.53%
|
| $1,025,000 | 2022 | Serial | 5% | 116.364 | 2.81%
|
| $1.48 million | 2023 | Serial | 5% | 114.824 | 3.00%
|
| $1.48 million | 2024 | Serial | 5% | 113.546 | 3.16%
|
| $1,535,000 | 2025 | Serial | 5% | 112.441 | 3.30%
|
| $2.5 million | 2026 | Serial | 5% | 111.272 | 3.45%
|
| $2,665,000 | 2027 | Serial | 5% | 110.04 | 3.61%
|
| $2.68 million | 2028 | Serial | 5% | 109.127 | 3.73%
|
| $2.8 million | 2029 | Serial | 5% | 107.999 | 3.88%
|
| $2.97 million | 2030 | Serial | 5% | 107.477 | 3.95%
|
| $3,085,000 | 2031 | Serial | 5% | 107.032 | 4.01%
|
| $3,265,000 | 2032 | Serial | 5% | 106.589 | 4.07%
|
| $3,465,000 | 2033 | Serial | 5% | 106.368 | 4.10%
|
| $3.67 million | 2034 | Serial | 5% | 106.148 | 4.13%
|
| $3,865,000 | 2035 | Serial | 5% | 105.856 | 4.17%
|
| $37,135,000 | 2039 | Term | 5% | 104.912 | 4.30%
|
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