Published on 8/11/2015 in the Prospect News Municipals Daily.
New Issue: Tarrant County, Texas, sells $67 million refunding, improvement bonds
By Sheri Kasprzak
New York, Aug. 11 – Tarrant County, Texas, sold $67,175,000 of series 2015 limited tax refunding and improvement bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
The bonds are due 2016 and 2018 to 2035 with 2% to 5% coupons.
Proceeds will be used to purchase, construct, renovate, rehabilitate, improve and maintain streets, roads, highways and bridges in the county; construct a juvenile justice complex; and refund the county’s series 2007 limited tax bonds.
| Issuer: | Tarrant County, Texas
|
| Issue: | Series 2015 limited tax refunding and improvement bonds
|
| Amount: | $67,175,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead), Stephens Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Aug. 11
|
| Settlement date: | Sept. 16
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $150,000 | 2016 | Serial | 2% | 101.401
|
| $2,465,000 | 2018 | Serial | 5% | 111.194
|
| $2.59 million | 2019 | Serial | 5% | 114.143
|
| $2,715,000 | 2020 | Serial | 5% | 116.197
|
| $2,855,000 | 2021 | Serial | 5% | 117.332
|
| $2,995,000 | 2022 | Serial | 5% | 118.291
|
| $3,145,000 | 2023 | Serial | 5% | 119.878
|
| $3,305,000 | 2024 | Serial | 5% | 120.93
|
| $3.47 million | 2025 | Serial | 5% | 121.861
|
| $6.63 million | 2026 | Serial | 3% | 102.398
|
| $6.83 million | 2027 | Serial | 3.75% | 107.754
|
| $3,195,000 | 2028 | Serial | 4% | 108.9
|
| $3,325,000 | 2029 | Serial | 4% | 107.66
|
| $3,455,000 | 2030 | Serial | 5% | 117.565
|
| $3.63 million | 2031 | Serial | 5% | 116.914
|
| $3.81 million | 2032 | Serial | 5% | 116.451
|
| $4 million | 2033 | Serial | 5% | 116.082
|
| $4.2 million | 2034 | Serial | 5% | 115.714
|
| $4.41 million | 2035 | Serial | 5% | 115.348
|
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