Published on 7/31/2013 in the Prospect News Municipals Daily.
New Issue: Bend-La Pine School District, Ore., sells $91.83 million of G.O. bonds
By Sheri Kasprzak
New York, July 31 - The Administrative School District No. 1 of Bend-La Pine, Ore., sold $91,825,000 of series 2013B general obligation bonds, said a pricing sheet.
The bonds (Aa1) were sold competitively with BofA Merrill Lynch winning the bid at a 3.82% true interest cost, said Brad Henry, chief operating officer for the district.
The bonds are due 2018 to 2033 with 4% to 5% coupons and 1.47% to 4.4% yields.
Proceeds will be used to finance capital expenditures.
| Issuer: | Administrative School District No. 1 of Bend-La Pine, Ore.
|
| Issue: | Series 2013B general obligation bonds
|
| Amount: | $91,825,000
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| TIC: | 3.82%
|
| Rating: | Moody's: Aa1
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 14
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6.75 million | 2018 | Serial | 4% | 111.767 | 1.47%
|
| $7.5 million | 2019 | Serial | 4% | 112.252 | 1.78%
|
| $650,000 | 2022 | Serial | 4% | 110.073 | 2.71%
|
| $875,000 | 2023 | Serial | 4% | 109.62 | 2.87%
|
| $1.11 million | 2024 | Serial | 5% | 116.459 | 3.05%
|
| $15,635,000 | 2025 | Serial | 5% | 114.809 | 3.23%
|
| $7,215,000 | 2026 | Serial | 4% | 102.616 | 3.68%
|
| $7.92 million | 2027 | Serial | 4% | 100.887 | 3.89%
|
| $8.67 million | 2028 | Serial | 4% | 99.442 | 4.05%
|
| $9.47 million | 2029 | Serial | 4.25% | 100.635 | 4.17%
|
| $10,345,000 | 2030 | Serial | 4.25% | 99.875 | 4.26%
|
| $11.28 million | 2031 | Serial | 4.375% | 100.591 | 4.3%
|
| $2,515,000 | 2032 | Serial | 4.5% | 101.264 | 4.34%
|
| $1.89 million | 2033 | Serial | 4.5% | 100.786 | 4.4%
|
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