Orange County, Fla., schools to sell $99.365 million COPs Aug. 20, Sept. 5

By Sheri Kasprzak

New York, Aug. 15 - The School Board of Orange County in Florida expects to price $99.365 million in certificates of participation, a sellside source confirmed with Prospect News Friday.

The offering includes $48.365 million in series 2008D COPs and $51 million in series 2008E variable-rate COPs. The 2008D COPs are set to price Aug. 20 and the 2008E COPs on Sept. 5, the sellsider said.

The COPs will be sold on a negotiated basis with Citigroup Global Markets as the senior manager. The co-managers are Wachovia Bank, Morgan Stanley, Jackson Securities, RBC Capital Markets, Raymond James & Associates, Siebert Brandford Shank & Co. and Merrill Lynch.

Proceeds from the offerings will be used to refund the school board's series 2002B COPs and the board's outstanding series 2007C COPs.

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