Published on 10/10/2012 in the Prospect News Municipals Daily.
New Issue: Building Equity Sooner for Tomorrow, S.C., prices $49.81 million bonds
By Sheri Kasprzak
New York, Oct. 10 - Building Equity Sooner for Tomorrow of South Carolina came to market Wednesday with $49,805,000 of series 2012 installment purchase revenue refunding bonds for the Greenville County Project, according to a pricing sheet.
The deal was downsized from $51.05 million.
The bonds were sold through senior managers Wells Fargo Securities LLC and Bank of America Merrill Lynch.
The bonds are due 2014 to 2023 with 2% to 5% coupons.
Proceeds will be used to refund the corporation's series 2002 revenue bonds issued to finance construction, equipment and renovation of Greenville County schools.
| Issuer: | Building Equity Sooner for Tomorrow (South Carolina)/Greenville County Project
|
| Issue: | Series 2012 installment purchase revenue refunding bonds
|
| Amount: | $49,805,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and Bank of America Merrill Lynch (lead), Raymond James/Morgan Keegan and TD Securities (USA) LLC (co-managers)
|
| Pricing date: | Oct. 10
|
| Settlement date: | Nov. 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.82 million | 2014 | Serial | 4% | 107.165
|
| $5.15 million | 2015 | Serial | 4% | 110.122
|
| $3,745,000 | 2016 | Serial | 4% | 112.735
|
| $3.03 million | 2017 | Serial | 5% | 119.603
|
| $1.78 million | 2018 | Serial | 5% | 121.972
|
| $945,000 | 2019 | Serial | 2% | 103.749
|
| $7,375,000 | 2020 | Serial | 5% | 124.18
|
| $6,585,000 | 2021 | Serial | 5% | 124.668
|
| $9.46 million | 2022 | Serial | 5% | 124.953
|
| $2.5 million | 2023 | Serial | 2.125% | 97.817
|
| $6,415,000 | 2023 | Serial | 5% | 125.689
|
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