Published on 2/8/2012 in the Prospect News Municipals Daily.
New Issue: Conroe Independent School District, Texas, sells $125.81 million bonds
By Sheri Kasprzak
New York, Feb. 8 - The Conroe Independent School District of Texas sold $125.81 million of series 2012 unlimited tax school building and refunding bonds, according to a pricing sheet.
The bonds (Aa2) were sold through senior manager Wells Fargo Securities LLC.
The bonds are due 2013 to 2032 with a term bond due in 2035. The serial coupons range from 2% to 5%. The 2035 bonds have a 5% coupon priced at 113.263.
Proceeds will be used to refund certain maturities of the district's outstanding series 2003, 2003A, 2004A, 2005C, 2006 and 2008 bonds for a net present value savings and no extension of final maturity, as well as to address facility and renovation needs.
| Issuer: | Conroe Independent School District, Texas
|
| Issue: | Series 2012 unlimited tax school building and refunding bonds
|
| Amount: | $125.81 million
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC
|
| Rating: | Moody's: Aa2
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,065,000 | 2013 | Serial | 2% | 101.723
|
| $2,005,000 | 2014 | Serial | 3% | 105181
|
| $2.49 million | 2015 | Serial | 4% | 110.221
|
| $2.61 million | 2016 | Serial | 5% | 116.952
|
| $2,745,000 | 2017 | Serial | 5% | 120.399
|
| $2,855,000 | 2018 | Serial | 3% | 110.755
|
| $2.94 million | 2019 | Serial | 3% | 110.79
|
| $3,025,000 | 2020 | Serial | 3% | 110.428
|
| $3,145,000 | 2021 | Serial | 5% | 126.474
|
| $3.29 million | 2022 | Serial | 5% | 124.599
|
| $6.69 million | 2023 | Serial | 5% | 123.581
|
| $7.4 million | 2024 | Serial | 5% | 122.848
|
| $17.78 million | 2025 | Serial | 5% | 122.028
|
| $18,815,000 | 2026 | Serial | 5% | 121.126
|
| $2.27 million | 2027 | Serial | 4% | 110.371
|
| $2.36 million | 2028 | Serial | 4% | 109.537
|
| $1.7 million | 2029 | Serial | 3% | 98.687
|
| $750,000 | 2029 | Serial | 4% | 108.709
|
| $2.55 million | 2030 | Serial | 5% | 117.592
|
| $6.93 million | 2031 | Serial | 5% | 116.728
|
| $1.78 million | 2032 | Serial | 4% | 106.27
|
| $5.5 million | 2032 | Serial | 5% | 115.871
|
| $24,115,000 | 2035 | Term | 5% | 113.263
|
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