By Sheri Kasprzak
New York, May 20 - The School District of Upper Dublin, Montgomery County in Pennsylvania priced $53.505 million in series 2008A and 2008AA general obligation bonds Tuesday, a sellside source said.
The bonds (A1//) were sold on a competitive basis with Robert W. Baird winning the bid with a 3.958349% true interest cost.
The sale included $30 million in series 2008A bonds and $23.505 million in series 2008AA bonds.
The bonds are due 2008 to 2028 with a term bond due 2029. The tentative coupons are set from 2.5% to 4.375%. The yields were not immediately available. The 2008A bonds are due from 2009 to 2029, and the 2008AA bonds are due from 2008 to 2016, but the bonds were combined on the term sheet, said a source familiar with the sale.
"Not all of the information is finalized, so that should be available later this week," the inside source said.
Proceeds will be used for capital projects and improvements throughout the school district.
| Issuer: | School District of Upper Dublin (Pennsylvania)
|
| Issue: | Series 2008 general obligation bonds
|
| Amount: | $53.505 million
|
| Type: | Competitive
|
| Underwriter: | Robert W. Baird
|
| True interest cost: | 3.958349%
|
| Ratings: | Moody's: A1
|
| Pricing date: | May 20
|
|
|
| Maturity | Type | Coupon
|
| 2008 | Serial | 2.5%
|
| 2009 | Serial | 5%
|
| 2010 | Serial | 5%
|
| 2011 | Serial | 3%
|
| 2012 | Serial | 3.25%
|
| 2013 | Serial | 3.25%
|
| 2014 | Serial | 3.375%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 3.5%
|
| 2017 | Serial | 4%
|
| 2018 | Serial | 4%
|
| 2019 | Serial | 4%
|
| 2020 | Serial | 4%
|
| 2021 | Serial | 4%
|
| 2022 | Serial | 4%
|
| 2023 | Serial | 4.1%
|
| 2024 | Serial | 4.125%
|
| 2025 | Serial | 4.2%
|
| 2026 | Serial | 4.25%
|
| 2027 | Serial | 4.3%
|
| 2028 | Serial | 4.375%
|
| 2029 | Term | 4.375%
|
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