Published on 6/15/2012 in the Prospect News Municipals Daily.
New Issue: Olympia School District No. 111, Wash., details $75.13 million sale of G.O. bonds
By Sheri Kasprzak
New York, June 14 - The Olympia School District No. 111 of Washington State came to market with $75.13 million of series 2012B unlimited tax general obligation bonds, according to a pricing sheet.
The bonds (Aa2/A+/) were sold competitively with the Bank of New York Mellon winning the bid with a true interest cost of 3.57%, said Jennifer Priddy, assistant superintendent with the district.
The bonds are due 2013 to 2016 and 2024 to 2031 with 3% to 5% coupons.
Proceeds will be used to construct and equip a new middle school, modernize and renovate an elementary school and make other capital improvements to school facilities in the district.
Issuer: | Olympia School District No. 111
|
Issue: | Series 2012B unlimited tax general obligation bonds
|
Amount: | $75.13 million
|
Type: | Competitive
|
Underwriter: | Bank of New York Mellon
|
TIC: | 3.57%
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
Pricing date: | June 14
|
Settlement date: | June 28
|
|
Amount | Maturity | Type | Coupon | Price
|
$3,235,000 | 2013 | Serial | 3% | 103.909
|
$2.03 million | 2014 | Serial | 4% | 108.678
|
$795,000 | 2015 | Serial | 4% | 111.436
|
$1,265,000 | 2016 | Serial | 4% | 114.024
|
$4,075,000 | 2024 | Serial | 5% | 121.655
|
$4,355,000 | 2025 | Serial | 5% | 120.485
|
$5.67 million | 2026 | Serial | 5% | 119.616
|
$9.94 million | 2027 | Serial | 4% | 105.881
|
$7.88 million | 2028 | Serial | 5% | 117.243
|
$11.22 million | 2029 | Serial | 5% | 116.588
|
$11.97 million | 2030 | Serial | 4.5% | 109.463
|
$12,695,000 | 2031 | Serial | 4.5% | 108.846
|
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