By Sheri Kasprzak
New York, April 5 - Denver Public Schools of Colorado sold $396.235 million of series 2011 taxable refunding certificates of participation on Tuesday, said a pricing sheet.
The COPs (Aa3/A+/) were sold through senior manager Goldman Sachs & Co.
The COPs are due Dec. 15, 2026 and Dec. 15, 2037. The 2026 COPs have a 6.22% coupon, and the 2037 COPs have a 7.017% coupon. Both priced at par.
Proceeds from the offering will be used to refund the school district's series 2008A-B taxable variable-rate COPs.
| Issuer: | Denver Public Schools
|
| Issue: | Series 2011 taxable refunding certificates of participation
|
| Amount: | $396.235 million
|
| Type: | Negotiated
|
| Underwriter: | Goldman Sachs & Co.
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | April 5
|
| Settlement date: | April 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $103.505 million | Dec. 15, 2026 | Term | 6.22% | 100
|
| $292.73 million | Dec. 15, 2037 | Term | 7.017% | 100
|
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