By Sheri Kasprzak
New York, March 2 - The Irvine Unified School District of California sold $113.64 million of series 2012 adjustable-rate special tax bonds, according to an official statement.
The deal included $63.64 million of series 2012A bonds and $50 million of series 2012B bonds.
Both bonds are due Sept. 1, 2051 and bear interest initially at the daily rate.
The bonds (Aa2/VMIG 1) were sold on a negotiated basis. US Bancorp Investments Inc. and Piper Jaffray & Co. were the lead managers for the 2012A bonds, and Piper Jaffray & Co. was the senior manager for the 2012B bonds.
Proceeds will be used to improve school facilities within the district.
| Issuer: | Irvine Unified School District, Calif.
|
| Issue: | Series 2012 adjustable-rate special tax bonds
|
| Amount: | $113.64 million
|
| Type: | Negotiated
|
| Underwriters: | US Bancorp Investment Inc. and Piper Jaffray & Co. (lead for 2012A); Piper Jaffray & Co. (lead for 2012B)
|
| Rating: | Moody's: Aa2/VMIG 1
|
| Pricing date: | March 1
|
| Settlement date: | March 1
|
|
|
| $63.64 million series 2012A bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2051 | Term | Daily | 100
|
|
|
| $50 million series 2012B bonds
|
| Maturity | Type | Coupon | Price
|
| Sept. 1, 2051 | Term | Daily | 100
|
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