By Sheri Kasprzak
New York, Dec. 3 - The Dallas Independent School District brought $403,127,119 in series 2008 unlimited tax school building bonds, said a sellside source connected to the offering.
The bonds were sold through lead manager RBC Capital Markets. Co-managers included Citigroup Global Markets; Siebert Brandford Shank & Co.; Banc of America Securities LLC; Edward Jones; Loop Capital Markets; Morgan Keegan & Co.; Ramirez & Co.; Southwest Securities; Sterne, Agee & Leach Inc.; Kipling Jones & Co.; and Cabrera Capital Markets.
The bonds are due from 2010 to 2031 with a term bond due 2034. The serials have coupons from 5% to 6.25% and yields from 2.35% to 5.7%. The 2034 bonds have a 6.375% coupon to yield 5.75%.
The true interest cost for the bonds came to 5.6812071%, and the net interest cost came to 5.7979457%.
Proceeds from the sale will be used to construct, equip and renovate schools in the district.
| Issuer: | Dallas Independent School District
|
| Issue: | Series 2008 unlimited tax school building bonds
|
| Amount: | $403,127,119
|
| TIC: | 5.6812071%
|
| NIC: | 5.7979457%
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets (lead); Citigroup Global Markets; Siebert Brandford Shank & Co.; Banc of America Securities LLC; Edward Jones; Loop Capital Markets; Morgan Keegan & Co.; Ramirez & Co.; Southwest Securities; Sterne, Agee & Leach Inc.; Kipling Jones & Co.; and Cabrera Capital Markets
|
| Pricing date: | Dec. 3
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 5% | 2.35%
|
| 2015 | Serial | 5.25% | 3.55%
|
| 2016 | Serial | 5.25% | 3.81%
|
| 2017 | Serial | 5.25% | 4.07%
|
| 2018 | Serial | 5.25% | 4.27%
|
| 2019 | Serial | 5.25% | 4.52%
|
| 2020 | Serial | 5.25% | 4.74%
|
| 2021 | Serial | 5.25% | 4.90%
|
| 2022 | Serial | 5% | 5.05%
|
| 2023 | Serial | 5.5% | 5.17%
|
| 2024 | Serial | 6.25% | 5.21%
|
| 2025 | Serial | 5.25% | 5.42%
|
| 2026 | Serial | 5.25% | 5.49%
|
| 2027 | Serial | 6% | 5.48%
|
| 2028 | Serial | 6% | 5.52%
|
| 2029 | Serial | 6% | 5.56%
|
| 2030 | Serial | 5.25% | 5.67%
|
| 2030 | Serial | 5.5% | 5.67%
|
| 2031 | Serial | 5.5% | 5.70%
|
| 2034 | Term | 6.375% | 5.75%
|
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