New Issue: Ysleta ISD, Texas, brings to market $215.6 million school building bonds

By Sheri Kasprzak

New York, Jan. 8 – The Ysleta Independent School District of Texas priced $215.6 million of series 2016 unlimited tax school building bonds, according to a pricing sheet. The offering was downsized from $235,005,000.

The bonds (Aaa/AAA/) were offered through Piper Jaffray & Co. and Ramirez & Co. Inc.

The bonds are due 2032 to 2041 with a term bond due in 2045. The serial bonds have 5% coupons with 2.43% to 2.84% yields. The 2045 bonds have a 5% coupon priced at 117.354 to yield 2.90%.

Proceeds will be used to construct, equip and renovate school buildings in the district.

Issuer:	Ysleta Independent School District
Issue:	Series 2016 unlimited tax school building bonds
Amount:	$215.6 million
Type:	Negotiated
Underwriters:	Piper Jaffray & Co. and Ramirez & Co. Inc. (lead), BOSC Inc., Citigroup Global Markets Inc. and Raymond James/Morgan Keegan (co-managers)
Ratings:	Moody’s: Aaa
	Standard & Poor’s: AAA
Pricing date:	Jan. 8
Settlement date:	Feb. 9
Amount	Maturity	Type	Coupon	Price	Yield
$11 million	2032	Serial	5%	121.718	2.43%
$11.55 million	2033	Serial	5%	121.245	2.48%
$12.13 million	2034	Serial	5%	120.679	2.54%
$12,735,000	2035	Serial	5%	120.118	2.60%
$13.37 million	2036	Serial	5%	119.652	2.65%
$14.04 million	2037	Serial	5%	119.188	2.70%
$14.74 million	2038	Serial	5%	118.726	2.75%
$15.48 million	2039	Serial	5%	118.359	2.79%
$16,255,000	2040	Serial	5%	118.084	2.82%
$17,065,000	2041	Serial	5%	117.901	2.84%
$77,235,000	2045	Term	5%	117.354	2.90%

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