Published on 12/19/2013 in the Prospect News Municipals Daily.
New Issue: Miami-Dade County School District, Fla., sells $96.48 million G.O. debt
By Sheri Kasprzak
New York, Dec. 19 - The Miami-Dade County School District of Florida sold $96,475,000 of series 2014A general obligation school bonds, according to a pricing sheet.
The bonds (Aa3/A+/) were directly purchased by Citibank NA.
The bonds are due 2016 to 2039 with a term bond due in 2044. The serial bonds have 5% coupons with 1.24% to 4.86% yields. The 2044 bonds have a 5% coupon priced at 100.546 to yield 4.93%.
Proceeds will be used to finance school capital projects for the district.
| Issuer: | Miami-Dade County School District
|
| Issue: | Series 2014A general obligation school bonds
|
| Amount: | $96,475,000
|
| Type: | Negotiated
|
| Purchaser: | Citibank NA
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | Dec. 18
|
| Settlement date: | Feb. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.55 million | 2016 | Serial | 5% | 107.748 | 1.24%
|
| $1,625,000 | 2017 | Serial | 5% | 109.740 | 1.76%
|
| $1,705,000 | 2018 | Serial | 5% | 111.194 | 2.13%
|
| $1.79 million | 2019 | Serial | 5% | 111.988 | 2.48%
|
| $1.88 million | 2020 | Serial | 5% | 112.245 | 2.8%
|
| $1,975,000 | 2021 | Serial | 5% | 112.014 | 3.1%
|
| $2,075,000 | 2022 | Serial | 5% | 111.235 | 3.4%
|
| $2.18 million | 2023 | Serial | 5% | 110.691 | 3.61%
|
| $2,285,000 | 2024 | Serial | 5% | 109.979 | 3.8%
|
| $2.4 million | 2025 | Serial | 5% | 108.754 | 3.94%
|
| $2.52 million | 2026 | Serial | 5% | 107.546 | 4.08%
|
| $2,645,000 | 2027 | Serial | 5% | 106.438 | 4.21%
|
| $2.78 million | 2028 | Serial | 5% | 105.428 | 4.33%
|
| $2.92 million | 2029 | Serial | 5% | 104.594 | 4.43%
|
| $3,065,000 | 2030 | Serial | 5% | 104.016 | 4.5%
|
| $3.22 million | 2031 | Serial | 5% | 103.441 | 4.57%
|
| $3.38 million | 2032 | Serial | 5% | 102.952 | 4.63%
|
| $3.55 million | 2033 | Serial | 5% | 102.708 | 4.66%
|
| $3,725,000 | 2034 | Serial | 5% | 102.465 | 4.69%
|
| $3.91 million | 2035 | Serial | 5% | 102.142 | 4.73%
|
| $4,105,000 | 2036 | Serial | 5% | 101.821 | 4.77%
|
| $4,315,000 | 2037 | Serial | 5% | 101.580 | 4.8%
|
| $4.53 million | 2038 | Serial | 5% | 101.341 | 4.83%
|
| $4,755,000 | 2039 | Serial | 5% | 101.101 | 4.86%
|
| $27.59 million | 2044 | Term | 5% | 100.546 | 4.93%
|
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