Published on 9/11/2012 in the Prospect News Municipals Daily.
New Issue: Lubbock Independent School District, Texas, sells $57.46 million bonds
By Sheri Kasprzak
New York, Sept. 11 - The Lubbock Independent School District of Texas priced $57.46 million of series 2012A unlimited tax school building bonds, according to a pricing sheet.
The bonds were sold through Wells Fargo Securities LLC.
The bonds are due 2013 and 2015 to 2035 with term bonds due in 2038, 2040 and 2042. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 115.667, and the 2040 bonds have a 4% coupon priced at 103.954. The 2042 bonds have a 5% coupon priced at 115.315.
Proceeds will be used to finance the construction and renovation of school buildings within the district.
| Issuer: | Lubbock Independent School District
|
| Issue: | Series 2012A unlimited tax school building bonds
|
| Amount: | $57.46 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead); BOSC Inc., RBC Capital Markets LLC and Raymond James/Morgan Keegan (co-managers)
|
| Pricing date: | Sept.11
|
| Settlement date: | Sept. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,575,000 | 2013 | Serial | 2% | 100.622
|
| $1.02 million | 2015 | Serial | 4% | 108.313
|
| $1 million | 2016 | Serial | 3% | 108.086
|
| $1,435,000 | 2017 | Serial | 5% | 118.201
|
| $735,000 | 2021 | Serial | 3% | 109.588
|
| $660,000 | 2022 | Serial | 2.25% | 102.724
|
| $780,000 | 2023 | Serial | 5% | 124.596
|
| $900,000 | 2024 | Serial | 4% | 112.968
|
| $735,000 | 2025 | Serial | 3% | 102.295
|
| $695,000 | 2026 | Serial | 3% | 101.798
|
| $790,000 | 2027 | Serial | 5% | 121.75
|
| $1.75 million | 2028 | Serial | 5% | 121.283
|
| $1,915,000 | 2029 | Serial | 5% | 120.633
|
| $1,665,000 | 2030 | Serial | 3% | 99.061
|
| $2.85 million | 2031 | Serial | 5% | 119.62
|
| $3,035,000 | 2032 | Serial | 5% | 119.071
|
| $2.61 million | 2033 | Serial | 5% | 118.345
|
| $3.05 million | 2034 | Serial | 5% | 117.624
|
| $3,235,000 | 2035 | Serial | 5% | 116.908
|
| $10.86 million | 2038 | Term | 5% | 115.667
|
| $5 million | 2040 | Term | 4% | 103.954
|
| $11,165,000 | 2042 | Term | 5% | 115.315
|
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