New Issue: Katy ISD, Texas, sells $115 million variable-rate refunding bonds

By Sheri Kasprzak

New York, March 30 – The Katy Independent School District of Texas sold $115 million of series 2015C variable-rate unlimited tax refunding bonds, according to an official statement.

The bonds (Aa1/AA/) were sold through senior manager Morgan Stanley & Co. LLC.

The bonds are due Aug. 15, 2036 and bear interest at 67% of one-month Libor plus 55 basis points.

Proceeds will be used to refund the district’s series 2012C variable-rate unlimited tax refunding bonds.

Issuer:	Katy Independent School District
Issue:	Series 2015C variable-rate unlimited tax refunding bonds
Amount:	$115 million
Maturity:	Aug. 15, 2036
Coupon:	67% of one-month Libor plus 55 bps
Type:	Negotiated
Underwriters:	Morgan Stanley & Co. LLC (lead), Citigroup Global Markets Inc., Piper Jaffray & Co., Mesirow Financial Inc. and William Blair & Co. (co-managers)
Ratings:	Moody’s: Aa1
	Standard & Poor’s: AA
Pricing date:	March 18
Settlement date:	April 7

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