$24,420,000 Combination Tax and Revenue Certificates of Obligation, Series 2021A

On Thursday, June 30, 2021, Estrada Hinojosa participated in a $24,420,000 City of Lubbock, Texas Combination Tax and Revenue Certificates of Obligation, Series 2021A issue as Senior Managing Underwriter. Estrada Hinojosa and the syndicate members were able to generate interest among an array of investors which led to a sizable book order of $49,625,000  in Group Net orders. At the end of the order period, there was a coupon change in 2025 to 2% from 5% and in 2032-2034 to 3% from 4%. Also, the syndicate was long $1,425,000 bonds and Estrada Hinojosa deployed its capital helping the syndicate to hold the price constant. The syndicate was able to sell the balance over a two (2) day period.