Published on 6/12/2014 in the Prospect News Municipals Daily.
New Issue: Clear Creek Independent School District, Texas, sells $100 million debt
By Sheri Kasprzak
New York, June 12 – The Clear Creek Independent School District of Texas priced $99,995,000 of series 2014 school building and refunding bonds, according to a pricing sheet.
The bonds (/AAA/) were sold through Morgan Stanley & Co. LLC.
The bonds are due 2016 to 2034 with a term bond due in 2039. The serial coupons range from 2% to 5% with 0.29% to 3.26% yields. The 2039 bonds have a 5% coupon priced at 112.656 to yield 3.44%.
Proceeds will be used to finance the construction, improvement and equipment of new school buildings, as well as to refund existing school bonds.
| Issuer: | Clear Creek Independent School District, Texas
|
| Issue: | Series 2014 school building and refunding bonds
|
| Amount: | $99,995,000
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Rating: | Standard & Poor’s: AAA
|
| Pricing date: | June 12
|
| Settlement date: | July 1
|
|
|
| Amount Maturity | Type | Coupon Price | Yield
|
| $965,000 | 2016 | Serial | 3.25% | 104.713 0.29%
|
| $1.27 million | 2017 | Serial | 4% | 108.748 0.60%
|
| $705,000 | 2018 | Serial | 2% | 103.632 0.97%
|
| $1,005,000 | 2018 | Serial | 4% | 110.685 0.97%
|
| $710,000 | 2019 | Serial | 2% | 103.068 1.31%
|
| $855,000 | 2019 | Serial | 4% | 111.962 1.31%
|
| $1,635,000 | 2020 | Serial | 5% | 117.956 1.63%
|
| $1.72 million | 2021 | Serial | 5% | 118.929 1.93%
|
| $2.45 million | 2022 | Serial | 5% | 119.721 2.17%
|
| $2,135,000 | 2023 | Serial | 5% | 120.517 2.35%
|
| $2.24 million | 2024 | Serial | 5% | 121.307 2.49%
|
| $2.36 million | 2025 | Serial | 5% | 120.266 2.60%
|
| $4.65 million | 2026 | Serial | 5% | 119.328 2.70%
|
| $2.6 million | 2027 | Serial | 5% | 118.307 2.81%
|
| $4.41 million | 2028 | Serial | 5% | 117.205 2.93%
|
| $1.89 million | 2029 | Serial | 5% | 116.568 3.00%
|
| $3,245,000 | 2030 | Serial | 5% | 116.387 3.02%
|
| $3.41 million | 2031 | Serial | 5% | 115.755 3.09%
|
| $3.59 million | 2032 | Serial | 5% | 115.127 3.16%
|
| $5.87 million | 2033 | Serial | 5% | 114.681 3.21%
|
| $6.82 million | 2034 | Serial | 5% | 114.237 3.26%
|
| $45.46 million | 2039 | Term | 5% | 112.656 3.44%
|
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