$99,130,000 Unlimited Tax Refunding Bonds, Taxable Series 2021
Estrada Hinojosa participated in a $99,130,000 Pharr-San Juan-Alamo Independent School District, Unlimited Tax Refunding Bonds, Taxable Series 2021 deal as Senior-Managing Underwriter. Proceeds of the Bonds will be used for the purposes of refunding a portion of the District’s currently outstanding unlimited tax bonds and to pay costs of issuance of the Bonds.
Our Underwriting and Sales Desk submitted $361,255,000 worth of customer orders exceeding our 40% liability. In conjunction with the financing team, Estrada Hinojosa was able to generate interest for the deal among its buyers which led to a sizeable order book of $416,465,000 in total orders. The result of this was lower yields by five to ten basis points in various maturities and significant debt service savings for the District.