Published on 5/31/2012 in the Prospect News Municipals Daily.
New Issue: Katy Independent School District, Texas, prices $147.68 million of school building bonds
By Sheri Kasprzak
New York, May 31 - The Katy Independent School District of Texas sold $147.68 million of series 2012A unlimited tax school building and refunding bonds, said a pricing sheet.
The bonds (Aa2/AA/) were sold through Piper Jaffray & Co. and BOSC Inc. The co-managers were Coastal Securities Inc., Raymond James/Morgan Keegan and Wells Fargo Securities LLC.
The bonds are due 2015 to 2034 with term bonds due in 2037 and 2042. The serial coupons range from 3% to 5%. The 2037 bonds have a 5% coupon priced at 128.128. The 2042 bonds have a 5% coupon priced at 130.185.
Proceeds will be used to finance the construction, equipment and acquisition of school buildings in the district as well as to refund the district's series 2003A school building bonds.
Issuer: | Katy Independent School District
|
Issue: | Series 2012A unlimited tax school building and refunding bonds
|
Amount: | $147.68 million
|
Type: | Negotiated
|
Underwriters: | Piper Jaffray & Co. and BOSC Inc. (lead), Coastal Securities Inc., Raymond James/Morgan Keegan and Wells Fargo Securities LLC
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
Pricing date: | May 31
|
Settlement date: | June 19
|
|
Amount | Maturity | Type | Coupon | Price
|
$255,000 | 2015 | Serial | 4% | 108.998
|
$2,775,000 | 2016 | Serial | 4% | 111.927
|
$5,315,000 | 2017 | Serial | 4% | 114.052
|
$5,465,000 | 2018 | Serial | 5% | 121.142
|
$5.57 million | 2019 | Serial | 5% | 122.942
|
$5,945,000 | 2020 | Serial | 5% | 123.997
|
$2 million | 2021 | Serial | 3% | 108.906
|
$4.12 million | 2021 | Serial | 5% | 124.812
|
$2 million | 2022 | Serial | 3% | 108.099
|
$4.13 million | 2022 | Serial | 4% | 116.81
|
$7,125,000 | 2023 | Serial | 5% | 126.139
|
$6,465,000 | 2024 | Serial | 5% | 126.761
|
$4.55 million | 2025 | Serial | 5% | 127.225
|
$5.54 million | 2026 | Serial | 5% | 127.567
|
$4,605,000 | 2027 | Serial | 5% | 128.102
|
$6,335,000 | 2028 | Serial | 5% | 128.462
|
$5.62 million | 2029 | Serial | 5% | 128.811
|
$6,205,000 | 2030 | Serial | 5% | 129.014
|
$4,615,000 | 2031 | Serial | 5% | 129.078
|
$4,495,000 | 2032 | Serial | 5% | 129.185
|
$4,695,000 | 2033 | Serial | 5% | 128.998
|
$4.79 million | 2034 | Serial | 5% | 128.693
|
$15,375,000 | 2037 | Term | 5% | 128.128
|
$29.69 million | 2042 | Term | 5% | 130.185
|
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