Published on 2/19/2009 in the Prospect News Municipals Daily.
New Issue: Oceanside Unified School District, Calif., prices $66.6 million in two tranches at 5.560614% TIC
By Aaron Hochman-Zimmerman
New York, Feb. 19 - Oceanside Unified School District in California priced a $66.6 million two-tranche issue with a TIC of 5.560614% on Wednesday, according to Dave Olson of KNN Financial.
The tranches were split into $50 million in new money bonds and $16.6 million in refunding bonds.
The 2008 authorization new money bonds carry serial maturities from 2014 to 2031 and term bonds which mature in 2031, 2032 and 2033. The serials were sold as $25.10 million of zero-coupon capital appreciation bonds with a $76.29 million principal amount at maturity.
The 2009 G.O. refunding bonds carry serial maturities from 2015 to 2022 and will refund series A-C 2000 election bonds which have $8.37 million, $17.75 million and $18.15 million outstanding.
The refunding bonds due 2019 and 2020 are callable at par.
Morgan Stanley and De La Rosa & Co. will act as underwriters for the negotiated issue. KNN Financial is financial advisor to the district.
Oceanside Unified School District is headquartered in Oceanside, Calif.
Issuer: Oceanside Unified School District
Type: Negotiated
| Average coupon: | 3.902%
|
| Yield range: | 2.74% to 6.52%.
|
| TIC: | 5.56%
|
| Underwriters: | Morgan Stanley and De La Rosa & Co.
|
| Pricing date: | Feb. 18
|
|
|
| Issue: | 2008 authorization new money bonds
|
| Amount: | $50 million
|
|
|
| Issue: | Series 2009 G.O. refunding bonds
|
| Amount: | $16.6 million
|
|
|
|
|
| New money serial capital appreciation bonds
|
| Maturity | Amount | Coupon | Yield | Price
|
| Aug. 1, 2014 | $232,132 | 0% | 3.83% | 81.450
|
| Aug. 1, 2015 | $131,726 | 0% | 4.02% | 77.486
|
| Aug. 1, 2016 | $414,952 | 0% | 4.21% | 73.443
|
| Aug. 1, 2017 | $391,200 | 0% | 4.42% | 69.239
|
| Aug. 1, 2018 | $765,690 | 0% | 4.65% | 64.889
|
| Aug. 1, 2019 | $851,907 | 0% | 4.90% | 60.419
|
| Aug. 1, 2020 | $727,792 | 0% | 5.15% | 55.984
|
| Aug. 1, 2021 | $801,789 | 0% | 5.41% | 51.562
|
| Aug. 1, 2022 | $866,608 | 0% | 5.59% | 47.747
|
| Aug. 1, 2023 | $2.505 million | 0% | 5.75% | 44.184
|
| Aug. 1, 2024 | $2.551 million | 0% | 5.91% | 40.761
|
| Aug. 1, 2025 | $2.598 million | 0% | 6.01% | 37.847
|
| Aug. 1, 2026 | $2.575 million | 0% | 6.12% | 35.014
|
| Aug. 1, 2027 | $2.508 million | 0% | 6.23% | 32.324
|
| Aug. 1, 2028 | $2.415 million | 0% | 6.33% | 29.834
|
| Aug. 1, 2029 | $1.702 million | 0% | 6.40% | 27.646
|
| Aug. 1, 2030 | $1.639 million | 0% | 6.47% | 25.584
|
| Aug. 1, 2031 | $1.415 million | 0% | 6.52% | 23.747
|
|
|
| New money term bonds
|
| Maturity | Amount | Coupon: | Yield | Price
|
| Aug. 1, 2031 | $945,000 | 5.25% | 5.32% | 99.044
|
| Aug. 1, 2032 | $10.870 million | 5.25% | 5.32% | 99.044
|
| Aug. 1, 2033 | $13.900 million | 5.25% | 5.32% | 99.044
|
|
|
| Refunding bonds
|
| Maturity | Amount | Coupon: | Yield | Price
|
| Aug. 1, 2015 | $925,000 | 3.00% | 2.74% | 101.517
|
| Aug. 1, 2016 | $1.370 million | 3.00% | 2.91% | 100.594
|
| Aug. 1, 2017 | $1.415 million | 3.00% | 3.12% | 99.116
|
| Aug. 1, 2018 | $2.105 million | 4.00% | 3.35% | 105.205
|
| Aug. 1, 2019 | $2.435 million | 4.00% | 3.60% | 103.165
|
| Aug. 1, 2020 | $2.415 million | 4.00% | 3.89% | 100.856
|
| Aug. 1, 2021 | $2.775 million | 4.00% | 4.15% | 98.553
|
| Aug. 1, 2022 | $3.160 million | 4.25% | 4.33% | 99.189
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
