On Tuesday, August 8, SWS served as book running senior manager for $119,135,000 Permanent Improvement Refunding Bonds, Series 2023A and $96,560,000 Unlimited Tax Road Refunding Bonds, Series 2023A for Harris County, Texas.

Some salient points from the transaction include:

• Originally scheduled to price the week of July 31st, the working group decided to postpone the      pricing by a week in order to avoid the over $3.0 billion glut of AAA Texas ISD paper that would that gave investors an upper hand

• By the end of the order  period, the SWS-led syndicate generated nearly $1.5 billion in orders      (6.9x oversubscription overall) from 61 accounts, representing 12 investor types

• At reprice, SWS’  recommended yield reductions on 14 of 20 maturities for each series ranging between 2-11 bps on the PIBs and between 2-14 bps on the Road Bonds