Published on 2/11/2015 in the Prospect News Municipals Daily.
New Issue: El Paso ISD, Texas, brings to market $104.56 million of refunding bonds
By Sheri Kasprzak
New York, Feb. 11 – The El Paso Independent School District of Texas sold $104,555,000 of series 2015A unlimited tax refunding bonds, according to a pricing sheet.
The bonds (/AA-/AA) were sold through William Blair & Co. Inc.
The bonds are due 2021 to 2034 with 2.5% to 5% coupons with 1.57% to 3.3% yields.
Proceeds will be used to refund the district’s series 2008 unlimited tax building and refunding bonds.
| Issuer: | El Paso Independent School District, Texas
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| Issue: | Series 2015A unlimited tax refunding bonds
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| Amount: | $104,555,000
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| Type: | Negotiated
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| Underwriters: | William Blair & Co. Inc. (lead), Piper Jaffray & Co. Inc. and RBC Capital Markets LLC (co-managers)
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| Ratings: | Standard & Poor’s: AA-
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| Fitch: AA
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| Pricing date: | Feb. 11
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| Settlement date: | March 11
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4,785,000 | 2021 | Serial | 5% | 120.892 | 1.57%
|
| $5,805,000 | 2022 | Serial | 5% | 121.688 | 1.86%
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| $6,275,000 | 2023 | Serial | 5% | 122.637 | 2.06%
|
| $4,035,000 | 2024 | Serial | 5% | 123.625 | 2.21%
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| $4.07 million | 2025 | Serial | 5% | 124.484 | 2.34%
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| $4.42 million | 2026 | Serial | 5% | 123.338 | 2.45%
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| $4.8 million | 2027 | Serial | 5% | 122.307 | 2.55%
|
| $5,195,000 | 2028 | Serial | 4% | 110.024 | 2.88%
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| $9,025,000 | 2029 | Serial | 5% | 120.982 | 2.68%
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| $11,335,000 | 2030 | Serial | 3% | 96.394 | 3.30%
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| $12,435,000 | 2031 | Serial | 5% | 119.974 | 2.78%
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| $14.4 million | 2032 | Serial | 5% | 119.474 | 2.83%
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| $15.54 million | 2033 | Serial | 5% | 119.076 | 2.87%
|
| $2,435,000 | 2034 | Serial | 2.5% | 102.454 | 2.21%
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