Orange County School Board, Fla., offers $218.87 million COPs

By Sheri Kasprzak

New York, Feb. 26 – The Orange County School Board of Florida is expected to price $218.87 million of series 2016 certificates of participation during the week of Feb. 29, according to a preliminary official statement.

The offering includes $37.04 million of series 2016B certificates and $181.83 million of series 2016C COPs.

The certificates will be sold through senior managers J.P. Morgan Securities LLC and Citigroup Global Markets Inc. The co-managers are BofA Merrill Lynch, Jefferies & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC.

The 2016B certificates are due 2019 to 2027, and the 2016C COPs are due 2020 to 2034.

Proceeds will be used to refund the board’s series 2008D and 2009A certificates and to refinance a portion of the board’s series 2002A certificates.

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