Published on 9/15/2011 in the Prospect News Municipals Daily.
New Issue: Harris County, Texas, sells $92.78 million improvement, refunding bonds
By Sheri Kasprzak
New York, Sept. 15 - Harris County, Texas, sold Thursday $92.78 million of series 2011A permanent improvement and refunding bonds, said a pricing sheet. The deal was downsized from $140 million.
The bonds (/AAA/AAA) were sold through J.P. Morgan Securities LLC and Raymond James & Associates Inc. The co-managers were Jefferies & Co., Ramirez & Co. Inc. and Wells Fargo Securities LLC.
The bonds are due 2014 to 2031. The serial coupons range from 4% to 5%.
Proceeds will be used to refund all or a portion of the county's outstanding series B and series D commercial paper notes.
| Issuer: | Harris County, Texas
|
| Issue: | Series 2011A permanent improvement and refunding bonds
|
| Amount: | $92.78 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Raymond James & Associates Inc. (lead), Jefferies & Co. Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Sept. 15
|
| Settlement date: | Oct. 6
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.805 million | 2014 | Serial | 4% | 110.392
|
| $4.805 million | 2015 | Serial | 5% | 116.96
|
| $4.805 million | 2016 | Serial | 5% | 119.085
|
| $4.805 million | 2017 | Serial | 5% | 120.73
|
| $4.805 million | 2018 | Serial | 5% | 121.798
|
| $4.8 million | 2019 | Serial | 5% | 122.041
|
| $4.8 million | 2020 | Serial | 5% | 122.26
|
| $4.8 million | 2021 | Serial | 5% | 122.665
|
| $6.75 million | 2022 | Serial | 5% | 121.951
|
| $4.8 million | 2023 | Serial | 5% | 121.359
|
| $6.95 million | 2024 | Serial | 5% | 120.541
|
| $7.055 million | 2025 | Serial | 5% | 120.042
|
| $4.8 million | 2026 | Serial | 5% | 119.446
|
| $4.8 million | 2027 | Serial | 5% | 118.923
|
| $4.8 million | 2028 | Serial | 5% | 118.377
|
| $4.8 million | 2029 | Serial | 5% | 117.688
|
| $4.8 million | 2030 | Serial | 5% | 117.018
|
| $4.8 million | 2031 | Serial | 5% | 116.235
|
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