Published on 4/12/2012 in the Prospect News Municipals Daily.
New Issue: Ann Arbor Public Schools, Mich., prices $93.23 million G.O. bonds
By Sheri Kasprzak
New York, April 12 - The Ann Arbor Public Schools of Michigan sold $93.23 million of series 2012 general obligation refunding bonds, according to a pricing sheet.
The bonds (Aa2) were sold on a negotiated basis. Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. Inc. were the senior managers for the offering.
The bonds are due 2015 to 2029 with 4% to 5% coupons.
Proceeds will be used to refund existing G.O. bonds.
| Issuer: | Ann Arbor Public Schools, Mich.
|
| Issue: | Series 2012 general obligation refunding bonds
|
| Amount: | $93.23 million
|
| Type: | Negotiated
|
| Underwriters: | Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. Inc. (lead)
|
| Rating: | Moody's: Aa2
|
| Pricing date: | April 10
|
| Settlement date: | May 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,385,000 | 2015 | Serial | 5% | 113.03
|
| $4,625,000 | 2016 | Serial | 4% | 111.985
|
| $4.83 million | 2017 | Serial | 5% | 118.547
|
| $5,055,000 | 2018 | Serial | 4% | 114.726
|
| $5,275,000 | 2019 | Serial | 5% | 121.765
|
| $1,095,000 | 2020 | Serial | 4% | 115.276
|
| $4,425,000 | 2020 | Serial | 5% | 122.656
|
| $5,785,000 | 2021 | Serial | 5% | 123.3
|
| $6,065,000 | 2022 | Serial | 4% | 114.724
|
| $6,305,000 | 2023 | Serial | 5% | 121.999
|
| $6,655,000 | 2024 | Serial | 5% | 120.525
|
| $7 million | 2025 | Serial | 5% | 119.072
|
| $7.37 million | 2026 | Serial | 5% | 118.021
|
| $7,715,000 | 2027 | Serial | 5% | 117.357
|
| $8.08 million | 2028 | Serial | 5% | 116.698
|
| $8,565,000 | 2029 | Serial | 5% | 116.043
|
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