Published on 4/4/2016 in the Prospect News Municipals Daily.
New Issue: Virginia Public School sells $171.16 million school financing bonds
By Sheri Kasprzak
New York, April 4 – The Virginia Public School Authority priced $171.16 million of series 2016 Prince William County special obligation school financing and refunding bonds, according to a pricing sheet. The deal was upsized from $148,895,000.
The bonds (Aaa/AAA/AAA) were sold competitively.
The bonds are due 2017 to 2036 with 3% to 5% coupons and yields from 0.6% to 3.134%.
Proceeds will be used to finance capital improvements to school facilities and refund existing bonds.
| Issuer: | Virginia Public School Authority
|
| Issue: | Series 2016 Prince William County special obligation school financing and refunding bonds
|
| Amount: | $171.16 million
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Fitch: AAA
|
| Pricing date: | March 29
|
| Settlement date: | April 27
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $6,015,000 | 2017 | Serial | 5% | 105.518 | 0.60%
|
| $6,015,000 | 2018 | Serial | 5% | 109.557 | 0.73%
|
| $6,015,000 | 2019 | Serial | 5% | 113.18 | 0.89%
|
| $6,015,000 | 2020 | Serial | 5% | 116.189 | 1.10%
|
| $6.01 million | 2021 | Serial | 5% | 119.147 | 1.23%
|
| $9.22 million | 2022 | Serial | 5% | 121.707 | 1.37%
|
| $8.95 million | 2023 | Serial | 5% | 123.836 | 1.52%
|
| $14,285,000 | 2024 | Serial | 5% | 125.594 | 1.67%
|
| $14.32 million | 2025 | Serial | 5% | 127.182 | 1.80%
|
| $14.36 million | 2026 | Serial | 5% | 128.666 | 1.91%
|
| $12,065,000 | 2027 | Serial | 5% | 127.595 | 2.01%
|
| $14,395,000 | 2028 | Serial | 5% | 126.746 | 2.09%
|
| $11,425,000 | 2029 | Serial | 5% | 125.904 | 2.17%
|
| $6.01 million | 2030 | Serial | 3% | 101.502 | 2.83%
|
| $6.01 million | 2031 | Serial | 3% | 100.172 | 2.98%
|
| $6.01 million | 2032 | Serial | 3% | 100 | 3.00%
|
| $6.01 million | 2033 | Serial | 3% | 99.5 | 3.037%
|
| $6.01 million | 2034 | Serial | 3% | 99 | 3.072%
|
| $6.01 million | 2035 | Serial | 3% | 98.5 | 3.104%
|
| $6.01 million | 2036 | Serial | 3% | 98 | 3.134%
|
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