Miami-Dade County School Board, Fla., to sell $171.91 million of COPs

By Sheri Kasprzak

New York, May 16 - The School Board of Miami-Dade County, Fla., plans to price $171,905,000 of series 2012 certificates of participation, according to a preliminary official statement.

The deal includes $143,205,000 of series 2012A COPs and $28.7 million of series 2012B bonds, which include $13.79 million of series 2012B-1 and $14.91 million of series 2012B-2 bonds.

The certificates (A1/A/) will be sold through lead manager J.P. Morgan Securities LLC. The co-managers are Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan and RBC Capital Markets LLC.

The 2012A COPs are due 2014 to 2029 with a term bond due Aug. 1, 2027. The 2012B-1 bonds are due 2019 to 2020 and the 2012B-2 bonds are due 2016 to 2020.

Proceeds will be used to refund the school board's series 2000A, 2001C, 2003D, 2004A and 2006D certificates.

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