Published on 7/11/2013 in the Prospect News Municipals Daily.
New Issue: Katy Independent School District, Texas, sells $103 million school debt
By Sheri Kasprzak
New York, July 11 - The Katy Independent School District of Texas sold $103 million of series 2013A unlimited tax school building and refunding bonds, said a pricing sheet.
The bonds (Aa2/AA/) were sold through senior manager BOSC Inc.
The bonds are due 2014 to 2035 with term bonds due in 2038 and 2043. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 105.837, and the 2043 bonds have a 5% coupon priced at 104.955.
Proceeds will be used to construct, equip and acquire school facilities in the district and to acquire sites for new school facilities, as well as to refund existing debt.
| Issuer: | Katy Independent School District
|
| Issue: | Series 2013A unlimited tax school building and refunding bonds
|
| Amount: | $103 million
|
| Type: | Negotiated
|
| Underwriters: | BOSC Inc. (lead), Oppenheimer & Co., Wells Fargo Securities LLC, Jefferies & Co. and Southwest Securities Inc. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | July 11
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.75 million | 2014 | Serial | 2% | 100.97
|
| $3.55 million | 2015 | Serial | 4% | 105.48
|
| $4 million | 2016 | Serial | 4% | 108.078
|
| $4.25 million | 2017 | Serial | 4% | 109.753
|
| $4.25 million | 2018 | Serial | 5% | 115.307
|
| $4.1 million | 2019 | Serial | 5% | 116.442
|
| $1,825,000 | 2020 | Serial | 5% | 117.205
|
| $1.92 million | 2021 | Serial | 5% | 117.263
|
| $2,015,000 | 2022 | Serial | 5% | 116.798
|
| $2.12 million | 2023 | Serial | 5% | 116.778
|
| $2.23 million | 2024 | Serial | 5% | 115.428
|
| $2.34 million | 2025 | Serial | 5% | 113.833
|
| $2.46 million | 2026 | Serial | 5% | 112.437
|
| $2.59 million | 2027 | Serial | 5% | 111.061
|
| $2.72 million | 2028 | Serial | 5% | 110.043
|
| $2.86 million | 2029 | Serial | 5% | 109.203
|
| $3.01 million | 2030 | Serial | 5% | 108.702
|
| $3,145,000 | 2031 | Serial | 4% | 97.289
|
| $3,285,000 | 2032 | Serial | 4.5% | 101.944
|
| $3,435,000 | 2033 | Serial | 4.5% | 101.629
|
| $3.59 million | 2034 | Serial | 4.5% | 101.394
|
| $3,755,000 | 2035 | Serial | 4.5% | 101.082
|
| $12,435,000 | 2038 | Term | 5% | 105.837
|
| $25,365,000 | 2043 | Term | 5% | 104.955
|
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