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RBC Capital tells Roswell ISD board bond sale met competitive market rates; more sales planned in 2027
Summary
RBC Capital Markets reported the district’s first general obligation bond issue from the 2023 authorization sold competitively with Piper Sandler the low bidder at 3.66%; district plans to sell remaining authorization in 2027 and seek additional voter authorization in Nov. 2027.
Eric Harrigan of RBC Capital Markets told the Roswell Independent School District board on Oct. 14 that the district’s first authorized general obligation bond issue (voter authorization from 2023) was sold at a competitive sale with seven bidders. Piper Sandler submitted the winning bid at an interest rate of 3.66 percent, and staff said the district’s interest rates were competitive compared with Albuquerque Public Schools and the city of Rio Rancho, which were also in the market.
Harrigan said this was the first of the authorized issues and that the district expects to sell the remaining authorization in 2027. He added the district plans to return to voters in November 2027 to request additional authorization to continue the bond program.
Board members asked no substantive questions at the meeting; district staff characterized the sale as a satisfactory market result and said they would continue to manage the bond program and timing of future sales.
