By Cristal Cody
Springdale, Ark., May 8 - The Carrollton-Farmers Branch Independent School District in Texas priced $57.435 million bonds with a 4.124% true interest cost on Thursday, the district's financial adviser told Prospect News.
The series 2008 unlimited tax school building and refunding bonds (Aaa/AAA/) priced with 4% to 5% coupons to yield 2.05% in 2009 to 4.763% in 2033, said David Medanich, vice chairman of First Southwest Co.
Merrill Lynch & Co. was the winning bidder in the competitive sale.
Proceeds will finance construction of new school facilities and refund the district's series 1998 refunding and school buildings bonds and series 1998 school building unlimited tax bonds.
| Issuer: | Carrollton-Farmers Branch Independent School District (Texas)
|
| Issue: | Unlimited tax school building and refunding bonds
|
| Amount: | $57.435 million
|
| Type: | Competitive
|
| True interest cost: | 4.124%
|
| Coupons: | 4% to 5%
|
| Yields: | 2.05% to 4.763%
|
| Maturities: | 2009 to 2033
|
| Underwriter: | Merrill Lynch & Co.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 8
|
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