Published on 3/19/2014 in the Prospect News Municipals Daily.
New Issue: Orange County School Board, Fla., sells $63.84 million of certificates
By Sheri Kasprzak
New York, March 19 - The Orange County School Board of Florida sold $63.84 million of series 2014A certificates of participation, according to a pricing sheet.
The certificates (Aa2/AA/) were sold through senior manager J.P. Morgan Securities LLC.
The COPs are due 2024 to 2029 with 5% coupons and yields from 3.08% to 3.82%.
Proceeds will be used to current refund the school board's series 2004A certificates of participation.
| Issuer: | Orange County School Board, Fla.
|
| Issue: | Series 2014A certificates of participation
|
| Amount: | $63.84 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), BofA Merrill Lynch, Citigroup Global Markets Inc., Jefferies & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | March 19
|
| Settlement date: | May 6
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.81 million | 2024 | Serial | 5% | 116.742 | 3.08%
|
| $395,000 | 2025 | Serial | 5% | 115.601 | 3.20%
|
| $1,995,000 | 2026 | Serial | 5% | 114.007 | 3.37%
|
| $2.09 million | 2027 | Serial | 5% | 112.714 | 3.51%
|
| $28,075,000 | 2028 | Serial | 5% | 110.898 | 3.71%
|
| $29,475,000 | 2029 | Serial | 5% | 109.913 | 3.82%
|
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