Published on 8/4/2015 in the Prospect News Municipals Daily.
New Issue: Hillsborough County School, Fla., prices $100.65 million refunding COPs
By Sheri Kasprzak
New York, Aug. 4 – The Hillsborough County School Board of Florida priced $100,645,000 of series 2015A refunding certificates of participation, according to a pricing sheet. The deal was downsized from $150 million.
The COPs (Aa2/AA-/AA) were sold through senior manager Wells Fargo Securities LLC.
The certificates are due 2016 to 2031 with 2% to 5% coupons.
Proceeds will be used to refund the school board’s series 2005A, 2006A and 2007 certificates of participation.
| Issuer: | Hillsborough County School Board, Fla.
|
| Issue: | Series 2015A refunding certificates of participation
|
| Amount: | $100,645,000
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC (lead), BofA Merrill Lynch, RBC Capital Markets LLC, Raymond James/Morgan Keegan and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA-
|
| Fitch: AA
|
| Pricing date: | Aug. 4
|
| Settlement date: | Aug. 20
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $415,000 | 2016 | Serial | 2% | 101.326
|
| $2,735,000 | 2017 | Serial | 4% | 105.965
|
| $2,825,000 | 2018 | Serial | 5% | 110.844
|
| $2,965,000 | 2019 | Serial | 5% | 113.574
|
| $3,125,000 | 2020 | Serial | 5% | 115.442
|
| $3,285,000 | 2021 | Serial | 5% | 116.579
|
| $3.6 million | 2022 | Serial | 5% | 117.05
|
| $3,765,000 | 2023 | Serial | 5% | 117.823
|
| $3,965,000 | 2024 | Serial | 5% | 118.28
|
| $4,175,000 | 2025 | Serial | 5% | 118.465
|
| $37,135,000 | 2026 | Serial | 5% | 117.337
|
| $3.91 million | 2027 | Serial | 3% | 98.133
|
| $4,025,000 | 2028 | Serial | 3.125% | 97.764
|
| $4.16 million | 2029 | Serial | 5% | 114.663
|
| $4.35 million | 2030 | Serial | 5% | 114.029
|
| $12,065,000 | 2031 | Serial | 3.5% | 98.203
|
| $4,145,000 | 2031 | Serial | 5% | 113.398
|
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