By Cristal Cody
Springdale, Ark., April 22 - The California Infrastructure and Economic Development Bank priced $59.57 million of lease revenue refunding bonds with 3% to 5% coupons, according to pricing details released Friday.
The series 2008 Oakland Unified School District state school fund apportionment lease revenue bonds (A3/A/A-) priced Thursday to yield 2.35% to 4.84%.
The bonds have serial maturities from 2009 through 2018 and 2022 to 2023 and a term bond in 2021.
Banc of America Securities LLC was the senior manager of the negotiated sale.
Stone & Youngberg LLC, E.J. De La Rosa & Co., Great Pacific Securities, Toussaint Capital Partners LLC and UBS Securities LLC are co-managers.
Proceeds will be used to refund the Oakland Unified School District series 2005C lease revenue bonds.
| Issuer: | California Infrastructure and Economic Development Bank/Oakland Unified School District
|
| Issue: | Lease revenue bonds
|
| Amount: | $59.565 million
|
| Type: | Negotiated
|
| Maturities: | 2009-2018, 2022-2023 serials; term bond due 2021
|
| Underwriter: | Banc of America Securities LLC (lead)
|
| Ratings: | Moody's: A3
|
| S&P: A
|
| Fitch: A-
|
| Pricing date: | April 24
|
|
|
| Maturity | Coupon | Yield
|
| 2009 | 3% | 2.35%
|
| 2010 | 3% | 2.75%
|
| 2011 | 3% | 3%
|
| 2012 | 4% | 3.28%
|
| 2012 | 3.125% | 3.28%
|
| 2013 | 4% | 3.51%
|
| 2013 | 3.375% | 3.51%
|
| 2014 | 4% | 3.68%
|
| 2014 | 3.5% | 3.68%
|
| 2015 | 4% | 3.86%
|
| 2015 | 3.75% | 3.86%
|
| 2016 | 4% | 4.04%
|
| 2017 | 4% | 4.17%
|
| 2018 | 4.125% | 4.3%
|
| 2021 | 4.5% | 4.81%
|
| 2022 | 5% | 4.76%
|
| 2023 | 5% | 4.84%
|
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