New Issue: Oakland Unified School District, Calif., sells $120 million G.O. bonds

By Sheri Kasprzak

New York, Sept. 16 - The Oakland Unified School District of California sold $120 million of election of 2012, series 2013 general obligation bonds, according to a pricing sheet.

The bonds were sold through Siebert Brandford Shank & Co. LLC and Piper Jaffray & Co.

The bonds are due 2014 to 2019 with term bonds due in 2023, 2026, 2028, 2030 and 2038. The serial coupons range from 4% to 5%, and the yields range from 0.93% to 3.52%. The 2023 bonds have a 5.5% coupon to yield 4.84%, and the 2026 bonds have a 6% coupon to yield 5.09%. The 2028 bonds have a 6.25% coupon to yield 5.77%, and the 2030 bonds have a 6.25% coupon to yield 5.98%. The 2038 bonds have a 6.625% coupon to yield 6.3%.

Proceeds will be deposited into the district's building fund.

Issuer:	Oakland Unified School District
Issue:	Election of 2012, series 2013 general obligation bonds
Amount:	$120 million
Type:	Negotiated
Underwriters:	Siebert Brandford Shank & Co. LLC and Piper Jaffray & Co. (lead)
Pricing date:	Sept. 4
Settlement date:	Sept. 21
Amount	Maturity	Type	Coupon	Yield
$11.8 million	2014	Serial	4%	0.93%
$9,695,000	2015	Serial	4%	1.43%
$4 million	2016	Serial	5%	1.95%
$4.5 million	2017	Serial	5%	2.48%
$2.3 million	2018	Serial	5%	3.03%
$2.65 million	2019	Serial	5%	3.52%
$3,625,000	2023	Term	5.5%	4.84%
$7,575,000	2026	Term	6%	5.09%
$6.86 million	2028	Term	6.25%	5.77%
$8,595,000	2030	Term	6.25%	5.98%
$58.4 million	2038	Term	6.625%	6.3%

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