Published on 2/20/2013 in the Prospect News Municipals Daily.
New Issue: Grand Blanc Community Schools, Mich., prices $63.92 million G.O. bonds
By Sheri Kasprzak
New York, Feb. 20 - The Grand Blanc Community Schools of Michigan sold $63,915,000 of series 2013 refunding general obligation bonds, according to a pricing sheet.
The bonds were sold through Stifel, Nicolaus & Co. and Edward D. Jones & Co. LP.
The bonds are due 2015 to 2028 with 3% to 5% coupons.
Proceeds will be used to refund existing G.O. debt.
Issuer: | Grand Blanc Community Schools
|
Issue: | Series 2013 refunding general obligation bonds
|
Amount: | $63,915,000
|
Type: | Negotiated
|
Underwriters: | Stifel, Nicolaus & Co. and Edward D. Jones & Co. LP (lead)
|
Pricing date: | Feb. 20
|
Settlement date: | March 26
|
|
Amount | Maturity | Type | Coupon | Price
|
$3.19 million | 2015 | Serial | 4% | 107.074
|
$3.6 million | 2016 | Serial | 4% | 109.35
|
$3.96 million | 2017 | Serial | 4% | 111.415
|
$3.96 million | 2018 | Serial | 5% | 117.649
|
$3.97 million | 2019 | Serial | 5% | 119.162
|
$4.46 million | 2020 | Serial | 5% | 120.342
|
$5.22 million | 2021 | Serial | 5% | 121.239
|
$5,205,000 | 2022 | Serial | 5% | 121.497
|
$5.19 million | 2023 | Serial | 5% | 121.985
|
$5,175,000 | 2024 | Serial | 4% | 112.086
|
$5.11 million | 2025 | Serial | 4% | 111.478
|
$5,035,000 | 2026 | Serial | 4% | 110.991
|
$3,815,000 | 2027 | Serial | 4% | 110.816
|
$6,025,000 | 2028 | Serial | 3% | 97.97
|
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