Published on 6/1/2015 in the Prospect News Municipals Daily.
New Issue: El Paso County, Colo., sells $110 million Colorado College taxable bonds at par
By Sheri Kasprzak
New York, June 1 – El Paso County, Colo., sold $110 million of series 2015C taxable bonds for Colorado College, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through senior manager Wells Fargo Securities LLC.
The bonds are due 2024 to 2030 with term bonds due in 2035 and 2045. The serial coupons range from 3.291% to 4.041%, all priced at par. The 2035 bonds have a 4.471% coupon, and the 2045 bonds have a 4.671% coupon both, priced at par.
Proceeds will be used to construct, renovate and improve buildings on the college’s Colorado Springs campus, including improvements to the Tutt Library, construction of the Innovation Institute and renovations to a dining hall and student housing.
| Issuer: | El Paso County, Colo./Colorado College
|
| Issue: | Series 2015C taxable bonds
|
| Amount: | $110 million
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Pricing date: | May 26
|
| Settlement date: | June 10
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.12 million | 2024 | Serial | 3.291% | 100 | 3.291%
|
| $3.23 million | 2025 | Serial | 3.391% | 100 | 3.391%
|
| $3.34 million | 2026 | Serial | 3.541% | 100 | 3.541%
|
| $3,465,000 | 2027 | Serial | 3.741% | 100 | 3.741%
|
| $3.6 million | 2028 | Serial | 3.841% | 100 | 3.841%
|
| $3.74 million | 2029 | Serial | 3.941% | 100 | 3.941%
|
| $3,895,000 | 2030 | Serial | 4.041% | 100 | 4.041%
|
| $22,265,000 | 2035 | Term | 4.471% | 100 | 4.471%
|
| $63,345,000 | 2045 | Term | 4.671% | 100 | 4.671%
|
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