Ft. Worth School's $118M Refunding Is All About the Interest

Albanese, Elizabeth
February 2005
Bond Buyer;2/4/2005, Vol. 351 Issue 32064, p27
Trade Publication
The article reports that the Fort Worth Independent School District on February 7 will price a general obligation refunding offering worth $118 million, a deal that the district's financial adviser says is purely driven by a desire for interest savings. Proceeds from the transaction will take out the district's Series 1999 and Series 2000 GOs. The amount of the refunding could vary depending on market conditions. J.P. Morgan Securities Inc. is the lead manager for the deal, with Estrada Hinojosa & Co. and Siebert Brandford Shank & Co. rounding out the underwriting syndicate.


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