Published on 5/15/2015 in the Prospect News Municipals Daily.
New Issue: Fremont Union High School, Calif., sells $157.02 million G.O. bonds
By Sheri Kasprzak
New York, May 15 – The Fremont Union High School District of California sold $157.02 million of series 2015 general obligation refunding bonds, according to a pricing sheet.
The bonds (Aa1/AAA/) were sold through senior managers Morgan Stanley & Co. LLC and George K. Baum & Co. Inc.
The bonds are due 2015 to 2035 with a term bond due in 2040. The serial coupons range from 2% to 5%. The 2040 bonds have a 4% coupon priced at 100.913 and a 5% coupon priced at 112.412.
Proceeds will refund the district’s series 2005, 2008 and 2011B G.O. bonds.
| Issuer: | Fremont Union High School District
|
| Issue: | Series 2015 general obligation refunding bonds
|
| Amount: | $157.02 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC and George K. Baum & Co. Inc. (lead)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AAA
|
| Pricing date: | May 14
|
| Settlement date: | June 4
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.49 million | 2015 | Serial | 4% | 100.601
|
| $8,015,000 | 2016 | Serial | 2% | 101.859
|
| $8,605,000 | 2017 | Serial | 4% | 107.037
|
| $9,385,000 | 2018 | Serial | 5% | 112.271
|
| $10.31 million | 2019 | Serial | 5% | 115.06
|
| $11,295,000 | 2020 | Serial | 5% | 117.418
|
| $15.23 million | 2021 | Serial | 5% | 119.086
|
| $17,075,000 | 2022 | Serial | 5% | 120.431
|
| $3 million | 2023 | Serial | 4% | 114.095
|
| $3,755,000 | 2023 | Serial | 5% | 121.553
|
| $1.16 million | 2025 | Serial | 5% | 121.259
|
| $1,205,000 | 2026 | Serial | 5% | 119.594
|
| $1.27 million | 2027 | Serial | 5% | 118.726
|
| $1,325,000 | 2028 | Serial | 5% | 117.748
|
| $1.7 million | 2029 | Serial | 3.125% | 97.698
|
| $1.72 million | 2030 | Serial | 5% | 116.169
|
| $390,000 | 2032 | Serial | 3.5% | 97.722
|
| $995,000 | 2033 | Serial | 3.625% | 98.62
|
| $5.8 million | 2034 | Serial | 4% | 102.386
|
| $6.59 million | 2035 | Serial | 4% | 102.074
|
| $31.5 million | 2040 | Term | 4% | 100.913
|
| $15,205,000 | 2040 | Term | 5% | 112.412
|
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