By Sheri Kasprzak
New York, April 13 - The Odessa Junior College District of Texas sold Wednesday $66.325 million of series 2011 limited tax bonds, said a pricing sheet.
The bonds (AA-/AA-) were sold through senior manager Morgan Keegan & Co. Inc. with Edward Jones & Co. Inc., Raymond James & Associates Inc. and Wells Fargo Securities LLC as the co-managers.
The bonds are due 2014 to 2027 and 2029 to 2032 with term bonds due in 2037 and 2041. The serial coupons range from 2% to 5.25%. The 2037 bonds have a 5.25% coupon priced at 97.213. The 2041 bonds have a 5.375% coupon priced at 97.581.
Proceeds will be used to construct, acquire, design and renovate junior colleges throughout the district.
Issuer: | Odessa Junior College District
|
Issue: | Series 2011 limited tax bonds
|
Amount: | $66.325 million
|
Type: | Negotiated
|
Underwriters: | Morgan Keegan & Co. Inc. (lead), Edward Jones & Co. Inc., Raymond James & Associates Inc. and Wells Fargo Securities LLC (co-managers)
|
Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
Pricing date: | April 13
|
Settlement date: | April 21
|
|
Amount | Maturity | Type | Coupon | Price
|
$120,000 | 2014 | Serial | 2% | 101.448
|
$1.185 million | 2015 | Serial | 2.25% | 101.027
|
$1.395 million | 2016 | Serial | 3% | 103.026
|
$1.44 million | 2017 | Serial | 4% | 107.019
|
$1.495 million | 2018 | Serial | 3.5% | 102.071
|
$1.55 million | 2019 | Serial | 4% | 103.066
|
$1.61 million | 2020 | Serial | 4% | 101.317
|
$1.675 million | 2021 | Serial | 4% | 100
|
$1.74 million | 2022 | Serial | 5.25% | NRO
|
$1.835 million | 2023 | Serial | 5.25% | NRO
|
$1.93 million | 2024 | Serial | 5.25% | NRO
|
$2.03 million | 2025 | Serial | 5.25% | NRO
|
$2.135 million | 2026 | Serial | 4.625% | 98.217
|
$2.235 million | 2027 | Serial | 4.75% | 98.542
|
$4.8 million | 2029 | Serial | 5% | 100
|
$2.58 million | 2030 | Serial | 5% | 98.773
|
$2.71 million | 2031 | Serial | 5% | 98.24
|
$2.845 million | 2032 | Serial | 5.125% | 98.652
|
$16.615 million | 2037 | Term | 5.25% | 97.213
|
$16.535 million | 2041 | Term | 5.375% | 97.581
|
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