By Sheri Kasprzak
New York, June 22 - Education Reform Success Inc. of Georgia sold $104.415 million of series 2011 certificates of participation, said a pricing sheet.
The bonds were sold through senior managers Citigroup Global Markets Inc. and Morgan Keegan & Co. Inc.
The offering included $72.46 million of series 2011A taxable qualified school construction bonds and $31.955 million of series 2011B tax-exempt COPs.
The 2011A COPs are due 2025 to 2027 with 5.457% to 5.657% coupons, all priced at par. The 2011B COPs are due 2013 to 2017 with 2% to 5% coupons.
Proceeds will be used to construct, acquire, equip and furnish a new high school to replace North Atlanta High School.
| Issuer: | Education Reform Success Inc.
|
| Issue: | Series 2011 certificates of participation
|
| Amount: | $104.415 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and Morgan Keegan & Co. Inc.
|
| Pricing date: | June 17
|
| Settlement date: | June 23
|
|
|
| $72.46 million series 2011A taxable qualified school bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $22.46 million | 2025 | Serial | 5.457% | 100
|
| $25 million | 2026 | Serial | 5.557% | 100
|
| $25 million | 2027 | Serial | 5.657% | 100
|
|
|
| $31.955 million series 2011B tax-exempt COPs
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.92 million | 2013 | Serial | 2% | 101.467
|
| $6.04 million | 2014 | Serial | 5% | 109.215
|
| $6.34 million | 2015 | Serial | 5% | 11.066
|
| $6.66 million | 2016 | Serial | 5% | 112.834
|
| $6.995 million | 2017 | Serial | 5% | 112.837
|
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