Published on 4/13/2012 in the Prospect News Municipals Daily.
New Issue: Erie County Industrial, N.Y., brings $209.54 million of Buffalo School District bonds
By Sheri Kasprzak
New York, April 13 - The Erie County Industrial Development Agency sold $209.54 million of series 2012 refunding revenue bonds for the Buffalo School District, according to a term sheet.
The bonds (Aa3/AA-/) were sold through Citigroup Global Markets Inc. The co-managers were Lebenthal & Co. Inc., Loop Capital Markets LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Sterne, Agee & Leach Inc.
The bonds are due 2013 to 2026 with 1% to 5% coupons.
Proceeds will be used to refund the school district's series 2004 revenue bonds.
| Issuer: | Erie County Industrial Development Agency/Buffalo School District, N.Y.
|
| Issue: | Series 2012 refunding revenue bonds
|
| Amount: | $209.54 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Lebenthal & Co. Inc., Loop Capital Markets LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Sterne, Agee & Leach Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | April 12
|
| Settlement date: | April 19
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $14,055,000 | 2013 | Serial | 1% | NRO
|
| $4,945,000 | 2014 | Serial | 5% | 108.921
|
| $5.2 million | 2015 | Serial | 5% | 112.465
|
| $5,465,000 | 2016 | Serial | 5% | 115.173
|
| $15,285,000 | 2017 | Serial | 5% | 117.33
|
| $16,075,000 | 2018 | Serial | 5% | 118.846
|
| $16,895,000 | 2019 | Serial | 5% | 119.736
|
| $17.76 million | 2020 | Serial | 5% | 120.383
|
| $18,675,000 | 2021 | Serial | 5% | 120.012
|
| $19.63 million | 2022 | Serial | 5% | 120.096
|
| $20,635,000 | 2023 | Serial | 5% | NRO
|
| $21,695,000 | 2024 | Serial | 5% | NRO
|
| $22.81 million | 2025 | Serial | 5% | NRO
|
| $10,415,000 | 2026 | Serial | 5% | NRO
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
