Published on 3/28/2012 in the Prospect News Municipals Daily.
New Issue: Orange County School Board, Fla., brings $78.73 million of COPs
By Sheri Kasprzak
New York, March 28 - The Orange County School Board of Florida sold $78.73 million of series 2012B certificates of participation, according to a pricing sheet.
The bonds (Aa3//AA) were sold through lead manager J.P. Morgan Securities LLC. The co-managers were 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 bonds are due 2013 to 2014 and 2024 to 2027 with 2% to 5% coupons.
Proceeds will be used to refund the school board's series 2002A COPs.
| Issuer: | Orange County School Board, Fla.
|
| Issue: | Series 2012B certificates of participation
|
| Amount: | $78.73 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead); Citigroup Global Markets Inc., Loop Capital Markets LLC, Bank of America Merrill Lynch, Jefferies & Co., Morgan Keegan & Co. Inc. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA
|
| Pricing date: | March 28
|
| Settlement date: | May 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.39 million | 2013 | Serial | 2% | 101.808
|
| $1,405,000 | 2014 | Serial | 3% | 104.791
|
| $2,465,000 | 2024 | Serial | 5% | 114.203
|
| $2.56 million | 2025 | Serial | 5% | 113.091
|
| $34,615,000 | 2026 | Serial | 5% | 111.991
|
| $36,295,000 | 2027 | Serial | 5% | 111.266
|
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