By Sheri Kasprzak
New York, March 26 - The Greenfield Middle School Building Corp. in Indiana priced $54.85 million in series 2008 first mortgage bonds, according to a sellside source.
Robert W. Baird won the competitive sale with a 4.9099% true interest cost on Tuesday.
The bonds (/A/) are due from 2011 to 2028 with term bonds due 2032 and 2033. The coupons on the serial bonds range from 3% to 5% with yields ranging from 2.64% to 5.05%.
The 2032 term bond has a 5% coupon and a 5.1% yield, and the 2033 term bond has a 5.25% coupon and 5.1% yield.
Proceeds from the sale will be used for construction of a new seventh- and eighth-grade middle school, renovations at the Weston Elementary School and for renovations at the Greenfield-Central High School.
| Issuer: | Greenfield Middle School Building Corp.
|
| Issue: | Series 2008 first mortgage bonds
|
| Amount: | $54.85 million
|
| Type: | Competitive
|
| Underwriter: | Robert W. Baird
|
| True interest cost: | 4.9099%
|
| Rating: | Standard & Poor's: A
|
| Pricing date: | March 25
|
|
|
| Maturity | Type | Coupon | Yield | Price
|
| 2011 | Serial | 3% | 2.64% | 101.111
|
| 2012 | Serial | 3% | 2.88% | 100.420
|
| 2012 | Serial | 3.25% | 2.90% | 101.387
|
| 2013 | Serial | 3.5% | 3.05% | 101.972
|
| 2013 | Serial | 3.5% | 3.07% | 102.067
|
| 2014 | Serial | 3.5% | 3.23% | 101.403
|
| 2014 | Serial | 3.5% | 3.25% | 101.400
|
| 2015 | Serial | 4% | 3.41% | 103.526
|
| 2015 | Serial | 4% | 3.42% | 103.692
|
| 2016 | Serial | 4.125% | 3.58% | 103.655
|
| 2016 | Serial | 4.125% | 3.58% | 103.858
|
| 2017 | Serial | 4.125% | 3.75% | 102.770
|
| 2017 | Serial | 4.125% | 3.75% | 102.903
|
| 2018 | Serial | 4.125% | 3.91% | 101.724
|
| 2018 | Serial | 4.125% | 3.95% | 101.399
|
| 2019 | Serial | 4.2% | 4.20% | 100.000
|
| 2020 | Serial | 5% | 4.28% | 105.683
|
| 2021 | Serial | 5% | 4.40% | 104.708
|
| 2022 | Serial | 5% | 4.52% | 103.744
|
| 2023 | Serial | 5% | 4.63% | 102.869
|
| 2024 | Serial | 5% | 4.75% | 101.925
|
| 2025 | Serial | 5% | 4.85% | 101.146
|
| 2026 | Serial | 5% | 5.00% | 100.000
|
| 2027 | Serial | 5% | 5.03% | 99.625
|
| 2028 | Serial | 5% | 5.05% | 99.362
|
| 2032 | Term | 5% | 5.10% | 98.609
|
| 2033 | Term | 5.25% | 5.10% | 101.132
|
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