Published on 11/21/2013 in the Prospect News Municipals Daily.
New Issue: Colorado sells $89.51 million of Building Excellent Schools Today COPs
By Sheri Kasprzak
New York, Nov. 21 - The State of Colorado sold $89.51 million of series 2013I tax-exempt Building Excellent Schools Today certificates of participation, according to a pricing sheet.
The COPs (Aa2/AA-/) were sold through senior manager RBC Capital Markets LLC.
The certificates are due 2015 to 2033 with a term bond due in 2036. The serial coupons range from 3% to 5% with 0.35% to 4.37% yields. The 2036 bonds have a 5% coupon priced at 103.817 to yield 4.53%.
Proceeds will be used to finance school capital expenditures within the state.
| Issuer: | State of Colorado
|
| Issue: | Series 2013I tax-exempt Building Excellent Schools Today certificates of participation
|
| Amount: | $89.51 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | Nov. 20
|
| Settlement date: | Dec. 9
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $110,000 | 2015 | Serial | 3% | 103.345 | 0.35%
|
| $1.53 million | 2016 | Serial | 4% | 107.783 | 0.54%
|
| $1,595,000 | 2017 | Serial | 4% | 110.16 | 0.84%
|
| $1,665,000 | 2018 | Serial | 4% | 111.654 | 1.19%
|
| $1.74 million | 2019 | Serial | 4% | 111.698 | 1.67%
|
| $1,815,000 | 2020 | Serial | 5% | 116.814 | 2.12%
|
| $1.91 million | 2021 | Serial | 5% | 116.803 | 2.46%
|
| $2,015,000 | 2022 | Serial | 5% | 116.451 | 2.76%
|
| $2,125,000 | 2023 | Serial | 5% | 115.895 | 3.02%
|
| $2.24 million | 2024 | Serial | 5% | 115.356 | 3.23%
|
| $2,365,000 | 2025 | Serial | 5% | 113.763 | 3.40%
|
| $2,505,000 | 2026 | Serial | 5% | 112.47 | 3.54%
|
| $2.65 million | 2027 | Serial | 5% | 110.295 | 3.78%
|
| $2,805,000 | 2028 | Serial | 5% | 109.138 | 3.91%
|
| $3,345,000 | 2029 | Serial | 5% | 108.083 | 4.03%
|
| $3.55 million | 2030 | Serial | 5% | 107.127 | 4.14%
|
| $3.77 million | 2031 | Serial | 5% | 106.352 | 4.23%
|
| $4 million | 2032 | Serial | 5% | 105.669 | 4.31%
|
| $4.2 million | 2033 | Serial | 5% | 105.16 | 4.37%
|
| $43,575,000 | 2036 | Term | 5% | 103.817 | 4.53%
|
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