Published on 10/24/2012 in the Prospect News Municipals Daily.
New Issue: Virginia Public School brings $65.95 million of school financing bonds
By Sheri Kasprzak
New York, Oct. 24 - The Virginia Public School Authority sold $65.95 million of series 2012C school financing bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold competitively. The issuer did not return calls for the winning bidder by press time Wednesday.
The bonds are due 2013 to 2037 with term bonds due in 2039, 2040 and 2041. The serial coupons range from 2% to 5%. The 2039 bonds have a 3.125% coupon and were not reoffered. The 2040 bonds have a 3.125% coupon priced at 96.834 and the 2041 bonds have a 3.25% coupon priced at 98.707.
Proceeds will be used to purchase local school bonds.
| Issuer: | Virginia Public School Authority
|
| Issue: | Series 2012C school financing bonds
|
| Amount: | $65.95 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Fitch: AA
|
| Pricing date: | Oct. 24
|
| Settlement date: | Nov. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.07 million | 2013 | Serial | 5% | 103.394
|
| $1.25 million | 2014 | Serial | 5% | 107.889
|
| $1,825,000 | 2015 | Serial | 5% | 112.101
|
| $2,315,000 | 2016 | Serial | 5% | 116.043
|
| $2.42 million | 2017 | Serial | 5% | 119.481
|
| $2,505,000 | 2018 | Serial | 4% | 116.793
|
| $2,595,000 | 2019 | Serial | 4% | 117.859
|
| $2,915,000 | 2020 | Serial | 5% | 125.643
|
| $3,055,000 | 2021 | Serial | 5% | 126.427
|
| $3,195,000 | 2022 | Serial | 4% | 118.54
|
| $3.11 million | 2023 | Serial | 3% | NRO
|
| $3.27 million | 2024 | Serial | 2% | NRO
|
| $3.33 million | 2025 | Serial | 2.25% | 98.579
|
| $3.4 million | 2026 | Serial | 2.25% | 97.566
|
| $3,735,000 | 2027 | Serial | 4% | 112.126
|
| $3,165,000 | 2028 | Serial | 3% | 102.545
|
| $3.12 million | 2029 | Serial | 3% | 101.858
|
| $3,195,000 | 2030 | Serial | 3% | 101.262
|
| $3.26 million | 2031 | Serial | 3% | 100.416
|
| $2,965,000 | 2032 | Serial | 3% | 100
|
| $1,565,000 | 2033 | Serial | 3% | 99.233
|
| $1,615,000 | 2034 | Serial | 3% | 98.425
|
| $920,000 | 2035 | Serial | 3% | 97.576
|
| $950,000 | 2036 | Serial | 3% | NRO
|
| $980,000 | 2037 | Serial | 3% | 95.772
|
| $2.05 million | 2039 | Term | 3.125% | NRO
|
| $1.07 million | 2040 | Term | 3.125% | 96.834
|
| $1,105,000 | 2041 | Term | 3.25% | 98.707
|
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