Published on 1/21/2015 in the Prospect News Municipals Daily.
New Issue: Orange County School, Fla., brings to market $114.23 million of COPs
By Sheri Kasprzak
New York, Jan. 21 – The Orange County School Board of Florida sold $114,225,000 of series 2015D certificates of participation, according to a pricing sheet. The deal was cut from $119,385,000.
The COPs (//AA) were sold through senior managers Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
The certificates are due 2018 to 2032 with 5% coupons.
Proceeds will be used to refund the board’s series 2007A-B certificates of participation.
| Issuer: | Orange County School Board
|
| Issue: | Series 2015D certificates of participation
|
| Amount: | $114,225,000
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead), BofA Merrill Lynch, Jefferies & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
|
| Rating: | Fitch: AA
|
| Pricing date: | Jan. 21
|
| Settlement date: | Feb. 25
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.77 million | 2018 | Serial | 5% | 114.158
|
| $5,005,000 | 2019 | Serial | 5% | 116.876
|
| $5.32 million | 2020 | Serial | 5% | 119.348
|
| $5.6 million | 2021 | Serial | 5% | 120.977
|
| $5,875,000 | 2022 | Serial | 5% | 122.247
|
| $5.43 million | 2023 | Serial | 5% | 123.348
|
| $5.71 million | 2024 | Serial | 5% | 124.215
|
| $5,705,000 | 2025 | Serial | 5% | 125.022
|
| $5,575,000 | 2026 | Serial | 5% | 123.557
|
| $5,855,000 | 2027 | Serial | 5% | 122.42
|
| $10,745,000 | 2028 | Serial | 5% | 121.704
|
| $11,285,000 | 2029 | Serial | 5% | 121.093
|
| $11,845,000 | 2030 | Serial | 5% | 120.285
|
| $12,435,000 | 2031 | Serial | 5% | 119.783
|
| $13.07 million | 2032 | Serial | 5% | 119.284
|
|
|
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