Published on 7/14/2015 in the Prospect News Municipals Daily.
New Issue: Arizona School Facilities Board brings to market $258.66 million COPs
By Sheri Kasprzak
New York, July 14 – The Arizona School Facilities Board priced $258,655,000 of series 2015A refunding certificates of participation, according to a pricing sheet.
The COPs (Aa3/AA-/) were sold through Citigroup Global Markets Inc.
The certificates are due 2015 and 2019 to 2023 with 2.35% to 5% coupons.
Proceeds will be used to refund the board’s series 2008 certificates.
| Issuer: | Arizona School Facilities Board
|
| Issue: | Series 2015A refunding certificates of participation
|
| Amount: | $258,655,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Pricing date: | July 14
|
| Settlement date: | July 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,955,000 | 2015 | Serial | 5% | 100.423
|
| $45,795,000 | 2019 | Serial | 5% | 114.248
|
| $48,145,000 | 2020 | Serial | 5% | 116.065
|
| $50,615,000 | 2021 | Serial | 5% | 117.046
|
| $53.21 million | 2022 | Serial | 2.35% | 100
|
| $55,935,000 | 2023 | Serial | 5% | 117.958
|
|
|
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