By Sheri Kasprzak
New York, May 8 - The Olathe Unified School District No. 233 in Kansas priced $152.835 million in series 2009 general obligation Build America Bonds, said a sellside source connected to the deal.
The sale included $95 million in series 2009A bonds, $22.45 million in series 2009B bonds and $35.385 million in series 2009C bonds.
The 2009A bonds are due 2014 to 2029 with coupons from 3.625% to 5.9% and yields from 3.4% to 5.91%. The 2009B bonds are due 2010 to 2018 with coupons from 2% to 4% and yields from 1% to 3%. The 2009C bonds are due 2010 to 2016 with coupons from 3% to 4% and yields from 1% to 2.53%.
The bonds were sold competitively with Springsted Inc. as the financial adviser.
Morgan Keegan & Co. Inc. won the bid with a 5.356% true interest cost.
Proceeds will be used to fund capital improvement costs and to refund existing debt.
| Issuer: | Olathe Unified School District No. 233
|
| Issue: | Series 2009 general obligation bonds
|
| Amount: | $149.87 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Keegan & Co. Inc.
|
| Adviser: | Springsted Inc.
|
| Pricing date: | May 7
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Yield
|
| 2014 | Serial | 3.625% | 3.40%
|
| 2015 | Serial | 3.85% | 3.60%
|
| 2016 | Serial | 4.25% | 4.00%
|
| 2017 | Serial | 4.45% | 4.20%
|
| 2018 | Serial | 4.65% | 4.40%
|
| 2019 | Serial | 4.95% | 4.65%
|
| 2020 | Serial | 5.125% | 4.85%
|
| 2021 | Serial | 5.4% | 5.10%
|
| 2022 | Serial | 5.55% | 5.25%
|
| 2023 | Serial | 5.3% | 5.35%
|
| 2024 | Serial | 5.4% | 5.45%
|
| 2025 | Serial | 5.55% | 5.60%
|
| 2026 | Serial | 5.625% | 5.70%
|
| 2027 | Serial | 5.75% | 5.80%
|
| 2028 | Serial | 5.9% | 5.91%
|
| 2029 | Serial | 5.9% | 5.91%
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 2% | 1.00%
|
| 2011 | Serial | 2% | 1.15%
|
| 2012 | Serial | 2% | 1.40%
|
| 2013 | Serial | 2% | 1.65%
|
| 2014 | Serial | 2.5% | 2.02%
|
| 2015 | Serial | 3% | 2.33%
|
| 2016 | Serial | 3% | 2.53%
|
| 2017 | Serial | 3% | 2.75%
|
| 2018 | Serial | 4% | 3.00%
|
|
|
| Series 2009C
|
| Maturity | Type | Coupon | Yield
|
| 2010 | Serial | 3% | 1.00%
|
| 2011 | Serial | 3% | 1.15%
|
| 2012 | Serial | 3% | 1.40%
|
| 2013 | Serial | 3% | 1.65%
|
| 2014 | Serial | 4% | 2.02%
|
| 2015 | Serial | 4% | 2.33%
|
| 2016 | Serial | 3% | 2.53%
|
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