New Issue: Chippewa Valley School, Mich., prices $132.95 million of G.O. refunding bonds

By Sheri Kasprzak

New York, March 15 - The Chippewa Valley School of Michigan sold $132,945,000 of series 2013 general obligation refunding bonds, according to a pricing sheet.

The bonds (/AA-/) were sold through Fifth Third Securities Inc.

The bonds are due 2016 to 2034 with 3.5% to 5.25% coupons.

Proceeds will be used to refund the school system's series 2003 and 2005 G.O. bonds.

Issuer:	Chippewa Valley School
Issue:	Series 2013 general obligation refunding bonds
Amount:	$132,945,000
Type:	Negotiated
Underwriters:	Fifth Third Securities Inc. (lead), J.P. Morgan Securities LLC, Stifel, Nicolaus & Co. and Comerica Securities Inc. (co-managers)
Ratings:	Standard & Poor's: AA-
Pricing date:	March 14
Settlement date:	March 27
Amount	Maturity	Type	Coupon	Price
$8,345,000	2016	Serial	5%	113.238
$8,345,000	2017	Serial	5%	116.4
$8,405,000	2018	Serial	5%	118.451
$8,495,000	2019	Serial	5%	119.474
$8.51 million	2020	Serial	5%	120.041
$8.53 million	2021	Serial	5%	120.408
$5,775,000	2022	Serial	5%	120.492
$5.86 million	2023	Serial	5%	120.299
$5.95 million	2024	Serial	5%	119.323
$6,035,000	2025	Serial	5.25%	120.922
$6,145,000	2026	Serial	5%	117.59
$6,235,000	2027	Serial	5%	116.83
$6.33 million	2028	Serial	5%	116.169
$6,425,000	2029	Serial	5%	115.606
$6.52 million	2030	Serial	5%	115.14
$6,625,000	2031	Serial	5%	114.676
$6.73 million	2032	Serial	5%	114.214
$6.84 million	2033	Serial	3.5%	96.628
$6,845,000	2034	Serial	3.625%	97.615

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.