Published on 2/6/2013 in the Prospect News Municipals Daily.
New Issue: Olentangy Local School District, Ohio, sells $61.09 million of 2013 refunding bonds
By Sheri Kasprzak
New York, Feb. 6 - The Olentangy Local School District of Ohio sold $61,085,000 of series 2013 refunding bonds, according to a pricing sheet.
The deal included $17.77 million of series 2013A taxable bonds, $40.28 million of series 2013B tax-exempt bonds and $3,035,000 of series 2013B capital appreciation bonds.
The 2013A bonds are due 2013, 2015 to 2016 and 2021 to 2023 with 3% to 5% coupons.
The 2013B bonds are due 2013 to 2030 with 1.5% to 4% coupons.
The 2013B capital appreciation bonds are due in 2022 and have a 0% coupon priced at 79.228.
The bonds (Aa1) were sold through senior manager Stifel, Nicolaus & Co.
Proceeds will be used to refund the district's series 2004 revenue bonds and its series 2006 taxable revneue bonds.
| Issuer: | Olentangy Local School District of Ohio
|
| Issue: | Series 2013 refunding bonds
|
| Amount: | $61,085,000
|
| Type: | Negotiated
|
| Underwriter: | Stifel, Nicolaus & Co.
|
| Rating: | Moody's: Aa1
|
| Pricing date: | Feb. 6
|
| Settlement date: | March 12
|
|
|
| $17.77 million series 2013A taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $170,000 | 2013 | Serial | 3% | 101.902
|
| $2.78 million | 2015 | Serial | 4% | 108.929
|
| $2.84 million | 2016 | Serial | 4% | 110.616
|
| $4,405,000 | 2021 | Serial | 4% | 113.105
|
| $4,575,000 | 2022 | Serial | 5% | 121.642
|
| $3 million | 2023 | Serial | 5% | 122.113
|
|
|
| $40.28 million series 2013B tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $950,000 | 2013 | Serial | 2% | 101.271
|
| $505,000 | 2014 | Serial | 1.5% | 102.091
|
| $525,000 | 2015 | Serial | 1.5% | 102.917
|
| $415,000 | 2016 | Serial | 1.5% | 103.23
|
| $2.68 million | 2017 | Serial | 1.5% | 103.141
|
| $2.72 million | 2018 | Serial | 1.5% | 102.772
|
| $2.77 million | 2019 | Serial | 4% | 117.598
|
| $2.87 million | 2020 | Serial | 3% | 110.817
|
| $2,955,000 | 2021 | Serial | 4% | 118.297
|
| $40,000 | 2022 | Serial | 3% | 109.439
|
| $3,075,000 | 2023 | Serial | 4% | 116.146
|
| $3.2 million | 2024 | Serial | 4% | 114.822
|
| $3,335,000 | 2025 | Serial | 4% | 113.515
|
| $3,465,000 | 2026 | Serial | 4% | 112.226
|
| $3.6 million | 2027 | Serial | 4% | 111.497
|
| $3,745,000 | 2028 | Serial | 4% | 110.864
|
| $3,375,000 | 2029 | Serial | 4% | 110.325
|
| $55,000 | 2030 | Serial | 2.75% | 97.93
|
|
|
| $3,035,000 series 2013B capital appreciation bonds
|
| Maturity | Type | Coupon | Price
|
| 2022 | Term | 0% | 79.228
|
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