New Issue: Elk Grove Unified School, Calif., sells $84.07 million refunding bonds

By Sheri Kasprzak

New York, Nov. 2 - The Elk Grove Unified School District of California came to market with $84,065,000 of series 2012 special tax refunding bonds, according to a pricing sheet.

The bonds (/BBB+/) were sold competitively. The issuer did not immediately return calls for the winning bidder.

The bonds are due 2013 to 2031 with a term bond due in 2033. The serial coupons range from 2% to 3.5%. The 2033 bonds have a 4% coupon priced to yield 4.05%.

Proceeds will be used to refund the district's series 1998 and 2003 bonds.

Issuer:	Elk Grove Unified School District
Issue:	Series 2012 special tax refunding bonds
Amount:	$84,065,000
Type:	Competitive
Ratings:	Standard & Poor's: BBB+
Pricing date:	Nov. 2
Settlement date:	Nov. 20
Amount	Maturity	Type	Coupon	Yield
$560,000	2013	Serial	2%	0.50%
$645,000	2014	Serial	2%	0.60%
$645,000	2015	Serial	2%	1.00%
$655,000	2016	Serial	2%	1.15%
$655,000	2017	Serial	2%	1.47%
$665,000	2018	Serial	2%	1.67%
$665,000	2019	Serial	3%	2.00%
$680,000	2020	Serial	3%	2.30%
$2.13 million	2021	Serial	3%	2.30%
$3,835,000	2022	Serial	3%	2.52%
$3.95 million	2023	Serial	3%	2.70%
$4,075,000	2024	Serial	3%	2.82%
$6,355,000	2025	Serial	3%	3.00%
$6,545,000	2026	Serial	3%	3.08%
$6.74 million	2027	Serial	3%	3.19%
$6.94 million	2028	Serial	3.125%	3.31%
$7.16 million	2029	Serial	3.25%	3.41%
$7.39 million	2030	Serial	3.375%	3.50%
$7.64 million	2031	Serial	3.5%	3.60%
$16,135,000	2033	Term	4%	4.05%

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