Published on 3/28/2016 in the Prospect News Municipals Daily.
New Issue: Cleveland County Educational, Okla., brings $103.05 million lease revenue bonds
By Cristal Cody
Eureka Springs, Ark., March 28 – The Cleveland County Educational Facilities Authority in Norman, Okla., priced $103,045,000 of educational facilities lease revenue bonds for the Moore Public Schools Project, according to an official statement.
The series 2016 bonds (/A+/) are due 2017 through 2023 and priced with 2% to 5% coupons to yield 0.9% to 2.15%.
D.A. Davidson & Co. managed the negotiated sale.
Proceeds will be used to finance the costs to acquire, construct, repair and remodel school buildings, to acquire school furniture, fixtures and equipment and to improve school sites.
| Issuer: | Cleveland County Educational Facilities Authority
|
| Issue: | Lease revenue bonds
|
| Amount: | $103,045,000
|
| Type: | Negotiated
|
| Underwriter: | D.A. Davidson & Co.
|
| Ratings: | Standard & Poor’s: A+
|
| Pricing date: | March 22
|
| Settlement date: | March 31
|
|
|
| Series 2016 bonds
|
| Amount | Maturity | Type | Coupon | Yield
|
| $1.5 million | 2017 | Serial | 5% | 0.9%
|
| $1,465,000 | 2018 | Serial | 5% | 1.1%
|
| $34.61 million | 2019 | Serial | 5% | 1.32%
|
| $3,485,000 | 2020 | Serial | 5% | 1.57%
|
| $9,425,000 | 2021 | Serial | 5% | 1.79%
|
| $14,645,000 | 2022 | Serial | 5% | 1.96%
|
| $2 million | 2023 | Serial | 2% | 2.15%
|
| $35,915,000 | 2023 | Serial | 5% | 2.15%
|
|
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