By Cristal Cody
Springdale, Ark., Aug. 14 - Fremont Union High School District and the Board of Supervisors of Santa Clara County in California priced $80 million of general obligation bonds with a 4.597751% true interest cost on Thursday, a market source told Prospect News.
The series A bonds (Aa2/AA+/) priced with 4% to 5% coupons to yield 1.48% to 4.85%.
The bonds have serial maturities from 2009 through 2028 and in 2033 and terms due 2030 and 2032.
Goldman, Sachs & Co. was the winning bidder in the competitive sale.
Proceeds will be used to renovate and modernize Cupertino, Fremont, Homestead, Lynbrook and Monta Vista high schools.
| Issuer: | Fremont Union High School and Board of Supervisors of Santa Clara County (California)
|
| Issue: | General obligation bonds
|
| Total amount: | $80 million
|
| Type: | Competitive
|
| True interest cost: | 4.597751%
|
| Coupons: | 4%-5%
|
| Yields: | 1.48%-4.85%
|
| Maturities: | 2009-2028 and 2033 serials; terms due 2030 and 2032
|
| Underwriter: | Goldman, Sachs & Co.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+ |
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 28
|
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