Published on 5/23/2013 in the Prospect News Municipals Daily.
New Issue: San Bernardino Unified School, Calif., brings $129.17 million G.O. bonds
By Sheri Kasprzak
New York, May 23 - The San Bernardino Unified School District of California sold $129,165,000 of series 2013 general obligation bonds, according to a pricing sheet.
The deal included $30.65 million of election of 2012 series 2013A G.O. bonds, $86 million of series 2013A G.O. refunding bonds and $12,515,000 of series 2013B taxable bonds.
The 2013A G.O.s are due 2014 and 2027 to 2037 with 3.5% to 5% coupons and yields from 3.77% to 4.19%. The 2014 bonds have a 2% coupon priced at 101.536 to yield 0.64%.
The 2013A G.O. refunding bonds are due 2013 and 2015 to 2028 with coupons from 3% to 5% and yields from 0.68% to 3.4%. The 2013 bonds have a 2% coupon priced at 100.217 to yield 0.4%.
The 2013B bonds are due 2014 to 2027 with coupons from 0.992% to 4.66% all priced at par.
The bonds (A2) were sold through Piper Jaffray & Co.
Proceeds will be used to acquire, repair and construct district facilities and defease a portion of the district's outstanding qualified school construction bonds COPs as well as to refund the district's election of 2004A-B and 2004 G.O. refunding bonds.
| Issuer: | San Bernardino Unified School District, Calif.
|
| Issue: | Series 2013 general obligation bonds
|
| Amount: | $129,165,000
|
| Type: | Negotiated
|
| Underwriter: | Piper Jaffray & Co. (lead)
|
| Pricing date: | May 23
|
| Settlement date: | June 12
|
|
|
| $30.65 million election of 2012 series 2013A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $350,000 | 2014 | Term | 2% | 101.536 | 0.64%
|
| $1.25 million | 2027 | Serial | 3.5% | 97.058 | 3.77%
|
| $1.75 million | 2028 | Serial | 5% | 113.617 | 3.40%
|
| $1.96 million | 2029 | Serial | 5% | 112.249 | 3.55%
|
| $2.18 million | 2030 | Serial | 5% | 111.707 | 3.61%
|
| $2.42 million | 2031 | Serial | 5% | 111.168 | 3.67%
|
| $2,675,000 | 2032 | Serial | 5% | 110.633 | 3.73%
|
| $2.95 million | 2033 | Serial | 4% | 98.769 | 4.09%
|
| $3,215,000 | 2034 | Serial | 4% | 98.452 | 4.11%
|
| $3,495,000 | 2035 | Serial | 4% | 98.121 | 4.13%
|
| $3,795,000 | 2036 | Serial | 4% | 97.633 | 4.16%
|
| $4.11 million | 2037 | Serial | 4% | 97.128 | 4.19%
|
|
|
| $86 million series 2013A G.O. refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,645,000 | 2013 | Term | 2% | 100.217 | 0.40%
|
| $1.58 million | 2015 | Serial | 3% | 104.911 | 0.68%
|
| $4,155,000 | 2016 | Serial | 4% | 109.466 | 0.93%
|
| $4.59 million | 2017 | Serial | 5% | 115.199 | 1.22%
|
| $5.1 million | 2018 | Serial | 5% | 117.453 | 1.46%
|
| $5,645,000 | 2019 | Serial | 5% | 118.509 | 1.80%
|
| $5,365,000 | 2020 | Serial | 5% | 119.269 | 2.08%
|
| $5.88 million | 2021 | Serial | 5% | 119.518 | 2.35%
|
| $6,415,000 | 2022 | Serial | 5% | 119.581 | 2.58%
|
| $6,995,000 | 2023 | Serial | 5% | 119.489 | 2.78%
|
| $7.61 million | 2024 | Serial | 5% | 117.939 | 2.94%
|
| $6,805,000 | 2025 | Serial | 5% | 116.32 | 3.11%
|
| $7.41 million | 2026 | Serial | 5% | 115.285 | 3.22%
|
| $8.06 million | 2027 | Serial | 5% | 114.355 | 3.32%
|
| $8,745,000 | 2028 | Serial | 5% | 113.617 | 3.40%
|
|
|
| $12,515,000 series 2013B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,755,000 | 2014 | Serial | 0.992% | 100 | 0.992%
|
| $2.12 million | 2015 | Serial | 1.292% | 100 | 1.292%
|
| $245,000 | 2016 | Serial | 1.716% | 100 | 1.716%
|
| $325,000 | 2017 | Serial | 2.239% | 100 | 2.239%
|
| $410,000 | 2018 | Serial | 2.729% | 100 | 2.729%
|
| $500,000 | 2019 | Serial | 3.178% | 100 | 3.178%
|
| $600,000 | 2020 | Serial | 3.378% | 100 | 3.378%
|
| $710,000 | 2021 | Serial | 3.71% | 100 | 3.71%
|
| $830,000 | 2022 | Serial | 3.91% | 100 | 3.91%
|
| $955,000 | 2023 | Serial | 4.08% | 100 | 4.08%
|
| $1,095,000 | 2024 | Serial | 4.21% | 100 | 4.21%
|
| $1.24 million | 2025 | Serial | 4.36% | 100 | 4.36%
|
| $1,405,000 | 2026 | Serial | 4.51% | 100 | 4.51%
|
| $325,000 | 2027 | Serial | 4.66% | 100 | 4.66%
|
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