Published on 8/1/2012 in the Prospect News Municipals Daily.
New Issue: Virginia Public School Authority prices $65.68 million of school financing bonds
By Sheri Kasprzak
New York, Aug. 1 - The Virginia Public School Authority and Prince William County came to market Wednesday with $65,675,000 of series 2012 special obligation school financing bonds, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold competitively. Wells Fargo Bank, NA won the bid with a 2.606255% true interest cost, said Evelyn Whitley, debt manager with the Virginia Treasurer's Office.
The bonds are due 2013 to 2032 with 4.5% to 5% coupons.
Proceeds will be used to fund various capital school improvement projects.
| Issuer: | Virginia Public School Authority/Prince William County
|
| Issue: | Series 2012 special obligation school financing bonds
|
| Amount: | $65,675,000
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Bank, NA (winner)
|
| TIC | 2.606255%
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,285,000 | 2013 | Serial | 5% | 104.393
|
| $3,285,000 | 2014 | Serial | 5% | 108.975
|
| $3,285,000 | 2015 | Serial | 5% | 113.325
|
| $3,285,000 | 2016 | Serial | 5% | 117.346
|
| $3,285,000 | 2017 | Serial | 5% | 120.745
|
| $3,285,000 | 2018 | Serial | 5% | 123.376
|
| $3,285,000 | 2019 | Serial | 5% | 125.375
|
| $3,285,000 | 2020 | Serial | 5% | 126.973
|
| $3,285,000 | 2021 | Serial | 5% | 128.338
|
| $3,285,000 | 2022 | Serial | 5% | 127.1
|
| $3,285,000 | 2023 | Serial | 5% | 125.875
|
| $3,285,000 | 2024 | Serial | 4.5% | 119.961
|
| $3,285,000 | 2025 | Serial | 4.5% | 118.706
|
| $3,285,000 | 2026 | Serial | 4.5% | 117.907
|
| $3,285,000 | 2027 | Serial | 4.5% | 117.554
|
| $3.28 million | 2028 | Serial | 4.5% | 116.94
|
| $3.28 million | 2029 | Serial | 4.5% | 116.329
|
| $3.28 million | 2030 | Serial | 4.5% | 115.721
|
| $3.28 million | 2031 | Serial | 4.5% | 115.118
|
| $3.28 million | 2032 | Serial | 4.5% | 114.518
|
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