By Sheri Kasprzak
New York, Aug. 12 - The South Coast Local Education Agencies of California sold $102.35 million of series 2011 pooled tax and revenue anticipation notes for three separate school districts, according to a term sheet.
The offering included $13 million of series 2011A notes for the Anaheim City School District, $74.99 million of series 2011B notes for the Capistrano Unified School District and $14.36 million of series 2011C notes for the Placentia-Yorba Linda Unified School District.
The 2011A notes are due June 29, 2012 with a 2% coupon priced at 101.438. The 2011B notes are due May 15, 2012 and have a 2% coupon priced at 101.183. The 2011C notes are due Aug. 31, 2012 and have a 2% coupon priced at 101.546.
Piper Jaffray & Co. was the manager for the offering.
Proceeds will be used to fund operating cash needs ahead of the collection of certain revenues and taxes.
| Issuer: | South Coast Local Education Agencies, Calif.
|
| Issue: | Series 2011 pooled tax and revenue anticipation notes
|
| Amount: | $102.35 million
|
| Type: | Negotiated
|
| Underwriter: | Piper Jaffray & Co.
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 18
|
|
|
| $13 million series 2011A notes for Anaheim City School District
|
| Maturity | Type | Coupon | Price
|
| June 29, 2012 | Term | 2% | 101.438
|
|
|
| $74.99 million series 2011B notes for Capistrano Unified School District
|
| Maturity | Type | Coupon | Price
|
| May 15, 2012 | Term | 2% | 101.183
|
|
|
| $14.36 million series 2011C notes for Placentia-Yorba Linda Unified School District
|
| Maturity | Type | Coupon | Price
|
| Aug. 13, 2012 | Term | 2% | 101.546
|
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