Published on 12/9/2014 in the Prospect News Municipals Daily.
New Issue: Orange County School Board, Fla., sells $137.59 million certificates
By Sheri Kasprzak
New York, Dec. 9 – The Orange County School Board of Florida sold $137.59 million of series 2015C certificates of participation, according to a pricing sheet.
The certificates (Aa2//AA) were sold through senior managers Citigroup Global Markets Inc. and Jefferies & Co.
The COPs are due 2028 to 2031 with 5% coupons.
Proceeds will be used to refund the board’s series 2006A COPs.
Issuer: | Orange County School Board
|
Issue: | Series 2015C certificates of participation
|
Amount: | $137.59 million
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. and Jefferies & Co. (lead), BofA Merrill Lynch, Loop Capital Markets LLC, J.P. Morgan Securities LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
|
Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
Pricing date: | Dec. 9
|
Settlement date: | Jan. 14
|
|
Amount | Maturity | Type | Coupon | Price
|
$16,745,000 | 2028 | Serial | 5% | 118.663
|
$17.58 million | 2029 | Serial | 5% | 118.165
|
$50,375,000 | 2030 | Serial | 5% | 117.67
|
$52.89 million | 2031 | Serial | 5% | 117.177
|
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