By Cristal Cody
Prospect News, July 19 - Harris County, Texas, priced $160.43 million of revenue refunding bonds with a 3.19% true interest cost on Thursday, a source close to the deal said.
The offering for the series 2012A tax and subordinate lien revenue refunding bonds was downsized from $175 million.
The bonds (/AAA/AAA) have serial maturities from 2013 though 2033.
J.P. Morgan Securities LLC was the senior manager of the negotiated sale. Co-managers were Barclays Capital Inc., Goldman Sachs & Co., Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc., Raymond James/Morgan Keegan and Siebert Brandford Shank & Co. LLC.
Proceeds will be used to refund the county's series 2002 revenue bonds.
| Issuer: | Harris County, Texas
|
| Amount: | $160.43 million
|
| Type: | Negotiated
|
| Maturities: | 2013-2033 serials
|
| Securities: | Revenue refunding bonds
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Co-managers: | Barclays Capital Inc., Goldman Sachs & Co., Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc., Raymond James/Morgan Keegan and Siebert Brandford Shank & Co. LLC
|
| True interest cost: 3.19%
|
| Ratings: | Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 19
|
| Settlement date: | Aug. 14
|
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