Published on 8/14/2014 in the Prospect News Municipals Daily.
New Issue: College Station, Texas, prices $69.87 million of bonds, certificates
By Sheri Kasprzak
New York, Aug. 14 – The City of College Station, Texas, priced $69.87 million of series 2014 general obligation and certificates of obligation, said a pricing sheet.
The deal included $35,865,000 of series 2014 G.O. improvement and refunding bonds and $34,005,000 of series 2014 certificates of obligation.
The G.O.s are due 2015 to 2034 with 2% to 5% coupons. The certificates are due 2015 to 2034 with coupons from 2% to 5%.
The bonds (Aa2/AA+/) were sold through Raymond James/Morgan Keegan.
Proceeds will be used to finance improvements to city streets, parks, electric utility facilities and library facilities, as well as to refund the city’s series 2005A utility system refunding bonds, series 2006 utility system revenue bonds, series 2006 G.O.s and certificates of obligation.
Issuer: | City of College Station
|
Issue: | Series 2014 general obligation bonds and certificates of obligation
|
Amount: | $69.87 million
|
Type: | Negotiated
|
Underwriters: | Raymond James/Morgan Keegan (lead), BOSC Inc., RBC Capital Markets LLC and Baird & Co. (co-managers)
|
Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA+
|
Pricing date: | Aug. 14
|
Settlement date: | Sept. 11
|
|
$35,865,000 series 2014 general obligation improvement and refunding bonds
|
Amount | Maturity | Type | Coupon | Price
|
$1.88 million | 2015 | Serial | 2% | 100.777
|
$3,175,000 | 2016 | Serial | 3% | 103.887
|
$2,945,000 | 2017 | Serial | 3% | 106
|
$2,465,000 | 2018 | Serial | 5% | 114.172
|
$1,985,000 | 2019 | Serial | 5% | 116.714
|
$2.1 million | 2020 | Serial | 5% | 118.235
|
$2.2 million | 2021 | Serial | 3% | 107.441
|
$2.29 million | 2022 | Serial | 3% | 106.798
|
$2,395,000 | 2023 | Serial | 5% | 121.688
|
$2.54 million | 2024 | Serial | 5% | 122.67
|
$2,685,000 | 2025 | Serial | 5% | 121.067
|
$2.84 million | 2026 | Serial | 5% | 119.858
|
$695,000 | 2027 | Serial | 4% | 108.585
|
$720,000 | 2028 | Serial | 4% | 107.222
|
$750,000 | 2029 | Serial | 4% | 105.962
|
$780,000 | 2030 | Serial | 4% | 105.298
|
$810,000 | 2031 | Serial | 3.5% | 99.379
|
$840,000 | 2032 | Serial | 3.5% | 98.711
|
$870,000 | 2033 | Serial | 3.5% | 98.262
|
$900,000 | 2034 | Serial | 3.625% | 99.239
|
|
$34,005,000 series 2014 certificates of obligation
|
Amount | Maturity | Type | Coupon | Price
|
$1,545,000 | 2015 | Serial | 2% | 100.777
|
$1.48 million | 2016 | Serial | 3% | 103.887
|
$1.53 million | 2017 | Serial | 3% | 106
|
$1,585,000 | 2018 | Serial | 5% | 114.172
|
$1.67 million | 2019 | Serial | 5% | 116.714
|
$1,685,000 | 2020 | Serial | 3.5% | 110.442
|
$1.75 million | 2021 | Serial | 3.5% | 110.466
|
$1,825,000 | 2022 | Serial | 5% | 120.533
|
$1.92 million | 2023 | Serial | 5% | 121.688
|
$2,025,000 | 2024 | Serial | 5% | 122.67
|
$1,345,000 | 2025 | Serial | 5% | 121.067
|
$1.41 million | 2026 | Serial | 5% | 119.858
|
$1.48 million | 2027 | Serial | 5% | 118.754
|
$1.56 million | 2028 | Serial | 5% | 117.572
|
$1.64 million | 2029 | Serial | 5% | 116.942
|
$1.73 million | 2030 | Serial | 5% | 116.315
|
$1,815,000 | 2031 | Serial | 5% | 115.693
|
$1,905,000 | 2032 | Serial | 5% | 115.162
|
$2 million | 2033 | Serial | 5% | 114.898
|
$2,105,000 | 2034 | Serial | 5% | 114.459
|
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