Published on 9/10/2013 in the Prospect News Municipals Daily.
New Issue: Tarrant County, Texas, sells $72.26 million refunding, improvement debt
By Sheri Kasprzak
New York, Sept. 10 - Tarrant County, Texas, sold $72.26 million of series 2013 limited tax refunding and improvement bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
The bonds are due 2014 to 2033 with 1% to 5% coupons and 0.19% to 4.5% yields.
Proceeds will be used to construct, reconstruct, renovate, rehabilitate, improve and maintain streets, roads, highways and bridges in the county, as well as to refund the county's series 2004 and 2005 limited tax refunding and improvement bonds.
| Issuer: | Tarrant County, Texas
|
| Issue: | Series 2013 limited tax refunding and improvement bonds
|
| Amount: | $72.26 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead), Stephens Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Sept. 10
|
| Settlement date: | Oct. 16
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.98 million | 2014 | Serial | 1% | 100.604 | 0.19%
|
| $2.64 million | 2015 | Serial | 2% | 102.694 | 0.45%
|
| $4.77 million | 2016 | Serial | 4% | 108.648 | 0.81%
|
| $4,985,000 | 2017 | Serial | 5% | 113.605 | 1.27%
|
| $5,255,000 | 2018 | Serial | 5% | 114.986 | 1.70%
|
| $5.51 million | 2019 | Serial | 5% | 115.854 | 2.06%
|
| $4.51 million | 2020 | Serial | 5% | 115.9 | 2.43%
|
| $4.74 million | 2021 | Serial | 5% | 115.372 | 2.78%
|
| $4,985,000 | 2022 | Serial | 5% | 115.033 | 3.03%
|
| $5,235,000 | 2023 | Serial | 5% | 114.694 | 3.23%
|
| $5.51 million | 2024 | Serial | 5% | 112.909 | 3.43%
|
| $3.17 million | 2025 | Serial | 5% | 111.33 | 3.61%
|
| $1,985,000 | 2026 | Serial | 5% | 109.864 | 3.78%
|
| $2,085,000 | 2027 | Serial | 5% | 108.673 | 3.92%
|
| $2.19 million | 2028 | Serial | 5% | 107.665 | 4.04%
|
| $2.3 million | 2029 | Serial | 5% | 106.668 | 4.16%
|
| $2,415,000 | 2030 | Serial | 5% | 105.764 | 4.27%
|
| $2,535,000 | 2031 | Serial | 5% | 105.112 | 4.35%
|
| $2,665,000 | 2032 | Serial | 5% | 104.465 | 4.43%
|
| $2,795,000 | 2033 | Serial | 5% | 103.903 | 4.50%
|
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