Orange County School Board, Fla., arranges $79.3 million sale of COPs

By Sheri Kasprzak

New York, March 16 - The School Board of Orange County, Fla., plans to price $79,295,000 of series 2012B certificates of participation, according to a preliminary official statement.

The certificates (Aa3//AA) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the lead manager. The co-managers are Citigroup Global Markets Inc.; Loop Capital Markets LLC; Bank of America Merrill Lynch; Jefferies & Co.; Morgan Keegan & Co. Inc.; and Wells Fargo Securities LLC.

The COPs are due 2013 to 2014 and 2024 to 2027.

Proceeds will be used to refund the school board's series 2002A COPs.

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