Published on 8/10/2016 in the Prospect News Municipals Daily.
New Issue: Lake Washington School, Wash., sells $195.02 million G.O. refunding bonds
By Sheri Kasprzak
New York, Aug. 10 – The Lake Washington School District of Washington State priced $195.02 million of series 2016 unlimited tax general obligation refunding bonds, according to a pricing sheet. The deal was downsized from $203.7 million.
The bonds (Aa1/AA+/) were sold through senior manager Davidson Securities.
The bonds are due 2016 to 2026 and 2028 to 2035 with 1.5% to 5% coupons and yields from 0.47% to 2.51%.
Proceeds will be used to finance districtwide capital projects for school facilities and to refund existing G.O. bonds.
| Issuer: | Lake Washington School District, Wash.
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| Issue: | Series 2016 unlimited tax general obligation and refunding bonds
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| Amount: | $195.02 million
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| Type: | Negotiated
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| Underwriter: | Davidson Securities
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| Ratings: | Moody’s: Aa1
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| S&P: AA+
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 23
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $495,000 | 2016 | Serial | 3% | 100.686 | 0.47%
|
| $8.36 million | 2017 | Serial | 4% | 104.419 | 0.51%
|
| $1.9 million | 2018 | Serial | 1.5% | 101.982 | 0.62%
|
| $6,065,000 | 2018 | Serial | 4% | 107.613 | 0.62%
|
| $2.5 million | 2019 | Serial | 3% | 107.258 | 0.75%
|
| $17,655,000 | 2019 | Serial | 5% | 113.711 | 0.75%
|
| $2 million | 2020 | Serial | 2.75% | 107.735 | 0.90%
|
| $6,915,000 | 2020 | Serial | 5% | 117.144 | 0.90%
|
| $11,805,000 | 2021 | Serial | 5% | 120.092 | 1.07%
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| $17.12 million | 2022 | Serial | 5% | 122.62 | 1.24%
|
| $1 million | 2023 | Serial | 2% | 104.345 | 1.37%
|
| $4.6 million | 2023 | Serial | 5% | 125.042 | 1.37%
|
| $2.5 million | 2024 | Serial | 1.75% | 101.858 | 1.51%
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| $7,985,000 | 2024 | Serial | 5% | 127.041 | 1.51%
|
| $6.83 million | 2025 | Serial | 5% | 129.387 | 1.58%
|
| $13,965,000 | 2026 | Serial | 4% | 120.625 | 1.70%
|
| $5,945,000 | 2028 | Serial | 4% | 117.573 | 2.01%
|
| $8,225,000 | 2029 | Serial | 4% | 116.224 | 2.15%
|
| $13.17 million | 2030 | Serial | 4% | 115.462 | 2.23%
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| $7,975,000 | 2031 | Serial | 4% | 114.705 | 2.31%
|
| $8.65 million | 2032 | Serial | 4% | 113.954 | 2.39%
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| $9.36 million | 2033 | Serial | 4% | 113.487 | 2.44%
|
| $15 million | 2034 | Serial | 4% | 113.301 | 2.46%
|
| $15 million | 2035 | Serial | 4% | 112.838 | 2.51%
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