Published on 5/19/2011 in the Prospect News Municipals Daily.
New Issue: San Jacinto River Authority, Texas, brings $83.16 million revenue bonds
By Sheri Kasprzak
New York, May 19 - The San Jacinto River Authority of Texas priced Thursday $83.155 million of series 2011 Groundwater Reduction Plan Division special project revenue bonds, said a pricing sheet.
The bonds were sold through Morgan Keegan & Co. Inc. with FirstSouthwest Co., Wells Fargo Securities LLC, Bank of America Merrill Lynch, Coastal Securities LLC and Southwest Securities Inc. as the co-managers.
The bonds are due 2014 to 2025 with term bonds due in 2027, 2032 and 2037. The serial coupons range from 3% to 5.25%. The 2027 bonds have a 4.5% coupon priced at 97.734. The 2032 bonds have a 5% coupon priced at 99.087, and the 2037 bonds have a 5% coupon priced at 97.143.
Proceeds will be used to conserve, protect and enhance groundwater resources in Montgomery County, Texas.
| Issuer: | San Jacinto River Authority
|
| Issue: | Series 2011 Groundwater Reduction Plan Division special project revenue bonds
|
| Amount: | $83.155 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Keegan & Co. Inc. (lead), FirstSouthwest Co., Wells Fargo Securities LLC, Bank of America Merrill Lynch, Coastal Securities LLC and Southwest Securities Inc. (co-managers)
|
| Pricing date: | May 19
|
| Settlement date: | June 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.035 million | 2014 | Serial | 3% | 104.437
|
| $2.095 million | 2015 | Serial | 3% | 104.091
|
| $2.17 million | 2016 | Serial | 4% | 108.942
|
| $2.26 million | 2017 | Serial | 4% | 107.923
|
| $2.355 million | 2018 | Serial | 4% | 106.502
|
| $2.45 million | 2019 | Serial | 4% | 104.667
|
| $2.54 million | 2020 | Serial | 3.5% | 99.056
|
| $2.635 million | 2021 | Serial | 3.75% | 99.152
|
| $2.32 million | 2022 | Serial | 4% | 99.545
|
| $425,000 | 2022 | Serial | 5.25% | 109.479
|
| $2.36 million | 2023 | Serial | 4% | 98.278
|
| $500,000 | 2023 | Serial | 5.25% | 108.227
|
| $3 million | 2024 | Serial | 5.25% | 106.992
|
| $3.16 million | 2025 | Serial | 5.25% | 105.774
|
| $6.79 million | 2027 | Term | 4.5% | 97.734
|
| $20.17 million | 2032 | Term | 5% | 99.087
|
| $25.89 million | 2037 | Term | 5% | 97.143
|
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