By Sheri Kasprzak
New York, April 25 - The Charleston County School District of South Carolina released additional information on its $61.25 million of series 2013 general obligation bond anticipation notes.
The deal includes $36.25 million of series 2013A notes and $25 million of series 2013B notes.
The 2013A notes are due November 2013 and have a 2% coupon priced at 100.955. The 2013B notes are due May 2014 and have a 1% coupon priced at par.
The notes (MIG 1/SP-1+/) were sold competitively. Wells Fargo Securities LLC won the bid for the 2013A notes at a 0.15584% true interest cost, and Morgan Stanley & Co. LLC took the 2013B notes at a 0.191755% TIC, said Mike Bobby, chief finance officer for the district on Thursday.
Proceeds will be used to pay a portion of the price payable by the school district to the Charleston Educational Excellence Financing Corp. under the school facilities purchase and occupancy agreement and to make improvements to some school facilities in the district, as well as to refund the district's series 2012B BANs.
| Issuer: | Charleston County School District, S.C.
|
| Issue: | Series 2013 general obligation bond anticipation notes
|
| Amount: | $61.25 million
|
| Type: | Competitive
|
| Underwriters: | Wells Fargo Securities LLC (winner for 2013A), Morgan Stanley & Co. LLC (winner for 2013B)
|
| TIC: | 0.15584% (for 2013A), 0.191755% (for 2013B)
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Pricing date: | April 25
|
| Settlement date: | May 9
|
|
|
| $36.25 million series 2013A notes
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2013 | Term | 2% | 100.955
|
|
|
| $25 million series 2013B notes
|
| Maturity | Type | Coupon | Price
|
| May 8, 2014 | Term | 1% | 100
|
© 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.
