Published on 9/16/2013 in the Prospect News Municipals Daily.
New Issue: Oakland Unified School District, Calif., sells $120 million G.O. bonds
By Sheri Kasprzak
New York, Sept. 16 - The Oakland Unified School District of California sold $120 million of election of 2012, series 2013 general obligation bonds, according to a pricing sheet.
The bonds were sold through Siebert Brandford Shank & Co. LLC and Piper Jaffray & Co.
The bonds are due 2014 to 2019 with term bonds due in 2023, 2026, 2028, 2030 and 2038. The serial coupons range from 4% to 5%, and the yields range from 0.93% to 3.52%. The 2023 bonds have a 5.5% coupon to yield 4.84%, and the 2026 bonds have a 6% coupon to yield 5.09%. The 2028 bonds have a 6.25% coupon to yield 5.77%, and the 2030 bonds have a 6.25% coupon to yield 5.98%. The 2038 bonds have a 6.625% coupon to yield 6.3%.
Proceeds will be deposited into the district's building fund.
Issuer: | Oakland Unified School District
|
Issue: | Election of 2012, series 2013 general obligation bonds
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Amount: | $120 million
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Type: | Negotiated
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Underwriters: | Siebert Brandford Shank & Co. LLC and Piper Jaffray & Co. (lead)
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Pricing date: | Sept. 4
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Settlement date: | Sept. 21
|
|
Amount | Maturity | Type | Coupon | Yield
|
$11.8 million | 2014 | Serial | 4% | 0.93%
|
$9,695,000 | 2015 | Serial | 4% | 1.43%
|
$4 million | 2016 | Serial | 5% | 1.95%
|
$4.5 million | 2017 | Serial | 5% | 2.48%
|
$2.3 million | 2018 | Serial | 5% | 3.03%
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$2.65 million | 2019 | Serial | 5% | 3.52%
|
$3,625,000 | 2023 | Term | 5.5% | 4.84%
|
$7,575,000 | 2026 | Term | 6% | 5.09%
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$6.86 million | 2028 | Term | 6.25% | 5.77%
|
$8,595,000 | 2030 | Term | 6.25% | 5.98%
|
$58.4 million | 2038 | Term | 6.625% | 6.3%
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