Published on 12/5/2012 in the Prospect News Municipals Daily.
New Issue: Denver School District No. 1, Colo., brings $511.82 million of G.O.s
By Sheri Kasprzak
New York, Dec. 5 - The Denver School District No. 1 of Colorado sold $511.82 million of series 2012 general obligation bonds, according to a pricing sheet.
The deal included $428.6 million of series 2012B tax-exempt G.O. bonds, $16 million of series 2012C taxable qualified zone G.O. bonds and $67.22 million of series 2012C taxable refunding bonds.
The 2012B bonds are due 2013 to 2032 with 2% to 5% coupons.
The 2012C bonds are due Dec. 1, 2035 and have a 3.773% coupon priced at par.
The 2012D bonds are due 2013 to 2022 with term bonds due in 2025 and 2028. The serial coupons range from 0.375% to 2.304%, all priced at par. The 2025 bonds have a 2.804% coupon and the 2028 bonds have a 3.154% coupon, both priced at par.
The bonds (Aa2//AA+) were sold on a negotiated basis. Stifel, Nicolaus & Co. Inc. was the senior manager for the 2012B bonds. RBC Capital Markets LLC was the lead manager for the 2012C and 2012D bonds.
Proceeds will be used to finance capital needs within the district, as well as to refund existing debt.
| Issuer: | Denver School District No. 1
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $511.82 million
|
| Type: | Negotiated
|
| Underwriters: | Stifel, Nicolaus & Co. Inc. (lead for 2012B), RBC Capital Markets LLC (lead for 2012C-D)
|
| Rating: | Moody's: Aa2
|
| Fitch: AA+
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 13
|
|
|
| $428.6 million series 2012B tax-exempt G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $9,515,000 | 2013 | Serial | 2% | 101.688
|
| $9.28 million | 2014 | Serial | 3% | 105.185
|
| $8,715,000 | 2015 | Serial | 4% | 110.329
|
| $12.63 million | 2016 | Serial | 4% | 113.21
|
| $13,765,000 | 2017 | Serial | 4% | 115.657
|
| $15.97 million | 2018 | Serial | 4% | 117.729
|
| $15.24 million | 2019 | Serial | 4% | 119.352
|
| $15,765,000 | 2020 | Serial | 4% | 120.079
|
| $16.25 million | 2021 | Serial | 4% | 120.585
|
| $16.77 million | 2022 | Serial | 4% | 120.565
|
| $24,725,000 | 2024 | Serial | 5% | 127.566
|
| $27.28 million | 2025 | Serial | 5% | 127.048
|
| $28,905,000 | 2026 | Serial | 5% | 126.429
|
| $13,705,000 | 2027 | Serial | 4% | 114.945
|
| $11.73 million | 2027 | Serial | 5% | 125.81
|
| $28.7 million | 2028 | Serial | 4% | 114.371
|
| $38,175,000 | 2029 | Serial | 3% | 101.899
|
| $39,165,000 | 2030 | Serial | 3% | 101.377
|
| $40.26 million | 2031 | Serial | 5% | 123.388
|
| $20 million | 2032 | Serial | 4% | 112.11
|
| $22,055,000 | 2032 | Serial | 5% | 122.989
|
|
|
| $16 million series 2012C taxable qualified zone G.O. bonds
|
| Maturity | Type | Coupon | Price
|
| Dec. 1, 2035 | Term | 3.773% | 100
|
|
|
| $67.22 million series 2012D taxable refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.71 million | 2013 | Serial | 0.375% | 100
|
| $2.04 million | 2014 | Serial | 0.502% | 100
|
| $17,625,000 | 2015 | Serial | 0.719% | 100
|
| $18.43 million | 2016 | Serial | 0.967% | 100
|
| $19.12 million | 2017 | Serial | 1.097% | 100
|
| $4,335,000 | 2018 | Serial | 1.46% | 100
|
| $400,000 | 2019 | Serial | 1.68% | 100
|
| $395,000 | 2020 | Serial | 1.954% | 100
|
| $390,000 | 2021 | Serial | 2.154% | 100
|
| $385,000 | 2022 | Serial | 2.304% | 100
|
| $1.15 million | 2025 | Term | 2.804% | 100
|
| $1.24 million | 2028 | Term | 3.154% | 100
|
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