Published on 2/27/2013 in the Prospect News Municipals Daily.
New Issue: Houston Community College System, Texas, sells $398.78 million of G.O.s
By Sheri Kasprzak
New York, Feb. 27 - The Houston Community College System of Texas priced $398,775,000 of series 2013 limited tax general obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through J.P. Morgan Securities LLC.
The bonds are due 2015 to 2038 with a term bond due in 2043. The serial coupons rage from 3% to 5%. The 2043 bonds have a split maturity with a 4% coupon priced at 103.305 and a 5% coupon priced at 114.534.
Proceeds will be used to construct, acquire, equip and furnish the system's school properties and acquire property.
| Issuer: | Houston Community College System
|
| Issue: | Series 2013 limited tax general obligation bonds
|
| Amount: | $398,775,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), First Southwest Co., Hutchison Shockey Erley & Co. LLC, Jefferies & Co., Loop Capital Markets LLC, Ramirez & Co., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 19
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.13 million | 2015 | Serial | 3% | 105.008
|
| $3,015,000 | 2016 | Serial | 5% | 112.932
|
| $3,995,000 | 2017 | Serial | 5% | 116.537
|
| $3.58 million | 2018 | Serial | 4% | 114.377
|
| $4.57 million | 2019 | Serial | 5% | 121.473
|
| $4.18 million | 2020 | Serial | 4% | 116.269
|
| $5,185,000 | 2021 | Serial | 5% | 123.979
|
| $6.29 million | 2022 | Serial | 5% | 125.007
|
| $4.45 million | 2023 | Serial | 5% | 125.404
|
| $4,755,000 | 2024 | Serial | 5% | 124.394
|
| $5,085,000 | 2025 | Serial | 5% | 122.996
|
| $2.93 million | 2026 | Serial | 5% | 121.813
|
| $4,065,000 | 2027 | Serial | 5% | 107.53
|
| $11.45 million | 2028 | Serial | 5% | 120.353
|
| $16.33 million | 2029 | Serial | 5% | 119.775
|
| $21.3 million | 2030 | Serial | 5% | 119.295
|
| $22,325,000 | 2031 | Serial | 3.375% | 100.207
|
| $24.62 million | 2032 | Serial | 5% | 118.533
|
| $25.88 million | 2033 | Serial | 5% | 118.154
|
| $27.21 million | 2034 | Serial | 5% | 117.777
|
| $40 million | 2036 | Serial | 5% | 113.455
|
| $20 million | 2037 | Serial | 5% | 110.146
|
| $26.43 million | 2038 | Serial | 5% | 115.358
|
| $56 million | 2043 | Term | 4% | 103.305
|
| $53 million | 2043 | Term | 5% | 114.534
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
