Published on 4/8/2016 in the Prospect News Municipals Daily.
New Issue: Eagle Mountain-Saginaw ISD, Texas, sells $157.52 million bonds
By Sheri Kasprzak
New York, April 8 – The Eagle Mountain-Saginaw Independent School District of Texas priced $157,515,000 of series 2016 unlimited tax refunding bonds, according to a pricing sheet.
The bonds were sold through senior manager Hilltop Securities Inc.
The bonds are due 2018 to 2037 with 2.25% to 5% coupons and yields from 0.83% to 2.82%.
Proceeds will be used to refund a portion of the district’s outstanding bonds.
| Issuer: | Eagle Mountain-Saginaw Independent School District
|
| Issue: | Series 2016 unlimited tax refunding bonds
|
| Amount: | $157,515,000
|
| Type: | Negotiated
|
| Underwriters: | Hilltop Securities Inc. (lead), Raymond James/Morgan Keegan and William Blair & Co. (co-managers)
|
| Pricing date: | April 7
|
| Settlement date: | May 19
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.63 million | 2018 | Serial | 5% | 109.229 | 0.83%
|
| $2,765,000 | 2019 | Serial | 5% | 112.851 | 0.96%
|
| $2.9 million | 2020 | Serial | 5% | 116.107 | 1.10%
|
| $3,695,000 | 2021 | Serial | 5% | 118.901 | 1.26%
|
| $3.58 million | 2022 | Serial | 5% | 121.366 | 1.41%
|
| $2.5 million | 2023 | Serial | 3% | 109.963 | 1.54%
|
| $1.26 million | 2023 | Serial | 5% | 123.612 | 1.54%
|
| $1.81 million | 2024 | Serial | 2.25% | 104.445 | 1.67%
|
| $4,035,000 | 2024 | Serial | 5% | 125.529 | 1.67%
|
| $100,000 | 2025 | Serial | 4% | 118.833 | 1.78%
|
| $5.99 million | 2025 | Serial | 5% | 127.317 | 1.78%
|
| $3 million | 2026 | Serial | 2.25% | 103.367 | 1.87%
|
| $3.39 million | 2026 | Serial | 5% | 127.849 | 1.86%
|
| $6.62 million | 2027 | Serial | 5% | 126.627 | 1.98%
|
| $7.59 million | 2028 | Serial | 5% | 125.92 | 2.05%
|
| $7.96 million | 2029 | Serial | 5% | 125.118 | 2.13%
|
| $8.37 million | 2030 | Serial | 5% | 124.521 | 2.19%
|
| $13.47 million | 2031 | Serial | 5% | 123.927 | 2.25%
|
| $14.15 million | 2032 | Serial | 4% | 112.248 | 2.57%
|
| $17,985,000 | 2033 | Serial | 4% | 111.608 | 2.64%
|
| $10,295,000 | 2034 | Serial | 4% | 111.064 | 2.70%
|
| $10,705,000 | 2035 | Serial | 4% | 110.702 | 2.74%
|
| $11,135,000 | 2036 | Serial | 4% | 110.342 | 2.78%
|
| $11.58 million | 2037 | Serial | 4% | 109.984 | 2.82%
|
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