Published on 12/2/2014 in the Prospect News Municipals Daily.
New Issue: Katy ISD, Texas, brings to market $152.46 million of refunding bonds
By Sheri Kasprzak
New York, Dec. 2 – The Katy Independent School District of Texas sold $152,455,000 of series 2014 refunding bonds, said a pricing sheet.
The offering included $134.31 million of series 2014A unlimited tax bonds and $18,145,000 of series 2014B limited tax bonds.
The 2014A bonds are due 2015 and 2018 to 2036 with 1% to 5% coupons.
The 2014B bonds are due 2015 and 2018 to 2028 with 0.5% to 5% coupons.
The bonds (Aa1/AA/) were sold through senior manager Wells Fargo Securities LLC.
Proceeds will be used refund existing bonds.
| Issuer: | Katy Independent School District
|
| Issue: | Series 2014 refunding bonds
|
| Amount: | $152,455,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), Jefferies & Co., Coastal Securities Inc., FirstSouthwest Co., Raymond James/Morgan Keegan and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 18
|
|
|
| $134.31 million series 2014A unlimited tax bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,915,000 | 2015 | Serial | 1% | 100.147
|
| $3.92 million | 2018 | Serial | 5% | 113.138
|
| $4.39 million | 2019 | Serial | 5% | 115.985
|
| $7,905,000 | 2020 | Serial | 5% | 118.126
|
| $9,265,000 | 2021 | Serial | 5% | 119.538
|
| $10,325,000 | 2022 | Serial | 5% | 120.728
|
| $10,345,000 | 2023 | Serial | 5% | 121.887
|
| $11.53 million | 2024 | Serial | 5% | 123.107
|
| $11.27 million | 2025 | Serial | 5% | 124.229
|
| $14.28 million | 2026 | Serial | 5% | 123.109
|
| $9,915,000 | 2027 | Serial | 5% | 122.201
|
| $10,475,000 | 2028 | Serial | 5% | 121.102
|
| $4.57 million | 2029 | Serial | 5% | 120.508
|
| $3,515,000 | 2030 | Serial | 5% | 120.016
|
| $1,655,000 | 2031 | Serial | 3% | 97.242
|
| $4,135,000 | 2032 | Serial | 4% | 107.697
|
| $3.97 million | 2033 | Serial | 4% | 107.247
|
| $3,505,000 | 2034 | Serial | 4% | 106.798
|
| $3,645,000 | 2035 | Serial | 4% | 106.441
|
| $3.78 million | 2036 | Serial | 4% | 106.085
|
|
|
| $18,145,000 series 2014B limited tax bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $210,000 | 2015 | Serial | 0.5% | 100.055
|
| $405,000 | 2018 | Serial | 4% | 109.926
|
| $2.16 million | 2019 | Serial | 5% | 115.808
|
| $2.25 million | 2020 | Serial | 5% | 117.962
|
| $2,405,000 | 2021 | Serial | 5% | 119.538
|
| $2.51 million | 2022 | Serial | 5% | 120.728
|
| $2.55 million | 2023 | Serial | 5% | 121.887
|
| $2.75 million | 2024 | Serial | 5% | 123.107
|
| $620,000 | 2025 | Serial | 3% | 106.213
|
| $610,000 | 2026 | Serial | 5% | 123.109
|
| $1.1 million | 2027 | Serial | 5% | 122.201
|
| $575,000 | 2028 | Serial | 5% | 121.102
|
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