Published on 7/1/2014 in the Prospect News Municipals Daily.
New Issue: Dallas ISD, Texas, brings to market $357.4 million of refunding bonds
By Sheri Kasprzak
New York, July 1 – The Dallas Independent School District of Texas sold $357,395,000 of series 2014A unlimited tax refunding bonds, according to a pricing sheet. The deal was upsized from $317.75 million.
The bonds were sold through J.P. Morgan Securities LLC and Mesirow Financial Inc.
The bonds are due 2015 to 2016, 2018 to 2029 and 2032 to 2034 with 1% to 5% coupons.
Proceeds will be used to refund the district’s series 2006 and 2008 unlimited tax school building bonds.
| Issuer: | Dallas Independent School District
|
| Issue: | Series 2014A unlimited tax refunding bonds
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| Amount: | $357,395,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Mesirow Financial Inc. (lead), Siebert Brandford Shank & Co. LLC and Sterne Agee & Leach Inc. (co-managers)
|
| Pricing date: | July 1
|
| Settlement date: | July 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $20.1 million | 2015 | Serial | 1% | 100.932
|
| $22.75 million | 2016 | Serial | 4% | 107.532
|
| $3,125,000 | 2018 | Serial | 5% | 115.922
|
| $2.73 million | 2019 | Serial | 5% | 117.958
|
| $3,465,000 | 2020 | Serial | 3% | 107.935
|
| $10.28 million | 2021 | Serial | 5% | 120.392
|
| $11.71 million | 2022 | Serial | 5% | 120.988
|
| $25,085,000 | 2023 | Serial | 5% | 121.695
|
| $30,375,000 | 2024 | Serial | 5% | 122.514
|
| $15,155,000 | 2025 | Serial | 5% | 121.322
|
| $10 million | 2026 | Serial | 4% | 110.92
|
| $5.61 million | 2026 | Serial | 5% | 120.339
|
| $37 million | 2027 | Serial | 5% | 119.462
|
| $40,835,000 | 2028 | Serial | 5% | 118.689
|
| $23.92 million | 2029 | Serial | 5% | 118.018
|
| $29,495,000 | 2032 | Serial | 5% | 116.594
|
| $32.09 million | 2033 | Serial | 4% | 105.774
|
| $6,725,000 | 2034 | Serial | 5% | 104.265
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