Prudential Securities wins competitive bid on Texas municipal bond issue

Business Wire, Feb 15, 1995

NEW YORK--(BUSINESS WIRE)--Feb. 15, 1995--Prudential Securities has won a Texas municipal bond issue of $30 million, AAA/AAA, PSF Guaranteed, Cypress-Fairbanks, Texas, Independent School District bonds by competitive bid. This issue was the first competitive sale of Texas School Bonds since the Supreme Court released its decision upholding the State's School Finance System.

The bonds mature Feb. 15, 1997, through Feb. 15, 2020. They are callable beginning Feb. 15, 2005 at 100. The yields range from 5.15 percent in 1997 through 6.20 percent in 2020. The following maturities have already sold out and are not available -- 1997-2001, 2004-2009, 2013, 2017-2020. The bond issue is expected to settle on 3/14/95. Price and availability is subject to change.

Prudential Securities Inc. is a fully diversified, global securities firm based in New York City, serving clients in the U.S. and overseas through approximately 6,000 Financial Advisors. The fifth-largest brokerage firm in the United States, Prudential Securities is a subsidiary of The Prudential Insurance Company of America.

CONTACT: Prudential Securities

Charles Perkins, 212/214-3955