Published on 6/5/2014 in the Prospect News Municipals Daily.
New Issue: Edmonds School District No. 15, Wash., sells $150 million of G.O. bonds
By Sheri Kasprzak
New York, June 5 – Edmonds School District No. 15 of Washington State sold $150 million of series 2014 unlimited tax general obligation bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through senior manager D.A. Davidson & Co.
The bonds are due 2015 to 2033 with 2% to 5% coupons and yields from 0.25% to 3.21%.
Proceeds will be used to improve safety, heating/ventilation, energy efficiency and other capital improvements, as well as to reduce class size for grades 1 through 6 at various schools within the district.
The district is headquartered in Lynnwood, Wash.
| Issuer: | Edmonds School District No. 15
|
| Issue: | Series 2014 unlimited tax general obligation bonds
|
| Amount: | $150 million
|
| Type: | Negotiated
|
| Underwriters: | D.A. Davidson & Co. (lead), Barclays and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Pricing date: | May 29
|
| Settlement date: | June 12
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,725,000 | 2015 | Serial | 2% | 102.565 | 0.25%
|
| $4.55 million | 2016 | Serial | 5% | 111.318 | 0.39%
|
| $910,000 | 2017 | Serial | 4% | 111.036 | 0.77%
|
| $315,000 | 2019 | Serial | 4% | 113.474 | 1.43%
|
| $12,845,000 | 2020 | Serial | 5% | 119.999 | 1.72%
|
| $2.19 million | 2021 | Serial | 5% | 120.872 | 1.98%
|
| $2.65 million | 2022 | Serial | 5% | 121.527 | 2.20%
|
| $315,000 | 2023 | Serial | 5% | 122.095 | 2.38%
|
| $5,405,000 | 2024 | Serial | 5% | 122.136 | 2.48%
|
| $6,405,000 | 2025 | Serial | 4% | 111.851 | 2.64%
|
| $7,275,000 | 2026 | Serial | 4% | 110.558 | 2.78%
|
| $8,195,000 | 2027 | Serial | 5% | 119.117 | 2.79%
|
| $9.26 million | 2028 | Serial | 5% | 118.543 | 2.85%
|
| $13.6 million | 2029 | Serial | 5% | 117.688 | 2.94%
|
| $15 million | 2030 | Serial | 5% | 116.934 | 3.02%
|
| $16.31 million | 2031 | Serial | 5% | 116.279 | 3.09%
|
| $18 million | 2032 | Serial | 5% | 115.814 | 3.14%
|
| $19,635,000 | 2033 | Serial | 5% | 115.167 | 3.21%
|
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