Published on 5/7/2015 in the Prospect News Municipals Daily.
New Issue: Scago Educational Facilities, S.C., sells $77 million refunding debt
By Sheri Kasprzak
New York, May 7 – The Scago Educational Facilities Corp. of South Carolina sold $76,985,000 of series 2015 installment purchase revenue refunding bonds for the Colleton School District, according to an official statement.
The bonds (A3/A-/) were sold through Citigroup Global Markets Inc.
The bonds are due 2015 to 2031 with 3% to 5% coupons and 0.25% to 3.79% yields.
Proceeds will be used to advance refund the district’s series 2006 revenue bonds.
| Issuer: | Scago Educational Facilities Corp./Colleton School District
|
| Issue: | Series 2015 installment purchase refunding revenue bonds
|
| Amount: | $76,985,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Piper Jaffray & Co. and BofA Merrill Lynch (co-managers)
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Pricing date: | May 1
|
| Settlement date: | June 1
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2.26 million | 2015 | Serial | 5% | 102.372 | 0.25%
|
| $3.28 million | 2016 | Serial | 3% | 103.319 | 0.77%
|
| $3,375,000 | 2017 | Serial | 4% | 106.926 | 1.18%
|
| $3.51 million | 2018 | Serial | 5% | 111.636 | 1.57%
|
| $3.69 million | 2019 | Serial | 4% | 109.197 | 1.86%
|
| $3,835,000 | 2020 | Serial | 5% | 114.765 | 2.14%
|
| $4,025,000 | 2021 | Serial | 5% | 115.757 | 2.37%
|
| $4.23 million | 2022 | Serial | 5% | 116.332 | 2.59%
|
| $4.44 million | 2023 | Serial | 5% | 116.95 | 2.75%
|
| $4.66 million | 2024 | Serial | 5% | 117.51 | 2.88%
|
| $4,895,000 | 2025 | Serial | 5% | 116.886 | 3.03%
|
| $5.14 million | 2026 | Serial | 5% | 115.764 | 3.15%
|
| $5,395,000 | 2027 | Serial | 5% | 114.747 | 3.26%
|
| $5,665,000 | 2028 | Serial | 5% | 113.74 | 3.37%
|
| $2.5 million | 2029 | Serial | 3.5% | 98.433 | 3.64%
|
| $3.45 million | 2029 | Serial | 5% | 113.286 | 3.42%
|
| $6.21 million | 2030 | Serial | 3.5% | 97.426 | 3.72%
|
| $6,425,000 | 2031 | Serial | 3.5% | 96.466 | 3.79%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
