Deals 07/10/2019

On July 10, 2019, Fort Bend County, Texas sold the $34.655 million Limited Tax Facility Bonds, Series 2019 with Loop Capital Markets as the bookrunning senior manager.

Proceeds of the Bonds were used to finance: (i) the construction, acquisition and improvements to (a) County parks and community center facilities, (b) County library facilities, and (c) other County facilities, including administration of justice and public safety facilities, and (ii) paying the COI.  Loop Capital Markets priced the bonds aggressively, and underwrote nearly 1/3 of the bonds.

The County was pleased that the Firm used its capital to backstop the pricing despite having going away orders at wider spreads.  The Bonds were rated “Aa1” (Stable) by Moody’s and “AA+” (Stable) by Fitch.