Published on 6/17/2016 in the Prospect News Municipals Daily.
New Issue: Peralta Community College, Calif., brings $157.83 million of G.O. bonds
By Sheri Kasprzak
New York, June 17 – The Peralta Community College District of California sold $157,825,000 of series 2016 general obligation bonds, according to a pricing sheet.
The deal included $107,825,000 of series 2016A G.O. refunding bonds and $50 million of election of 2008 series 2016D G.O. bonds.
The 2016A bonds are due 2016 and 2020 to 2034 with a term bond due in 2039. The serial coupons range from 3% to 5% and yields from 0.55% to 2.07%. The 2039 bonds have a 4% coupon priced at 112.385 to yield 2.47%.
The 2016D bonds are due 2032 to 2034 with a term bond due in 2039. The serial bonds have 3.5% coupon with yields from 2.39% to 2.54%. The 2039 bonds have a 4% coupon priced at 112.385 to yield 2.47%.
The bonds (Aa3/AAA) were sold through Citigroup Global Markets Inc.
Proceeds will be used to refund existing debt and finance capital improvements to the district’s college facilities.
| Issuer: | Peralta Community College District
|
| Issue: | Series 2016 general obligation bonds
|
| Amount: | $157,825,000
|
| Type: | Negotiated
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Ratings: | Moody’s: Aa3
|
| S&P: AAA
|
| Pricing date: | June 16
|
| Settlement date: | June 29
|
|
|
| $107,825,000 series 2016A general obligation refunding bonds
|
| Amount Maturity | Type | Coupon Price | Yield
|
| $2.3 million | 2016 | Serial | 3% | 100.217 0.55%
|
| $2,465,000 | 2020 | Serial | 4% | 112.502 0.88%
|
| $2.56 million | 2021 | Serial | 5% | 119.742 1.01%
|
| $2.69 million | 2022 | Serial | 5% | 122.907 1.10%
|
| $2.83 million | 2023 | Serial | 5% | 125.516 1.23%
|
| $2.97 million | 2024 | Serial | 5% | 127.967 1.34%
|
| $3.12 million | 2025 | Serial | 5% | 130.126 1.45%
|
| $3,275,000 | 2026 | Serial | 4% | 120.225 1.60%
|
| $3,405,000 | 2027 | Serial | 5% | 127.874 1.68%
|
| $3,575,000 | 2028 | Serial | 5% | 127.005 1.77%
|
| $3,755,000 | 2029 | Serial | 5% | 126.43 | 1.83%
|
| $3.94 million | 2030 | Serial | 5% | 125.953 1.88%
|
| $4.14 million | 2031 | Serial | 5% | 125.573 1.92%
|
| $4.34 million | 2032 | Serial | 5% | 124.911 1.99%
|
| $9.27 million | 2033 | Serial | 5% | 124.535 2.03%
|
| $9.74 million | 2034 | Serial | 5% | 124.159 2.07%
|
| $43.45 million | 2039 | Term | 4% | 112.385 2.47%
|
|
|
| $50 million election of 2008 series 2016D bonds
|
| Amount Maturity | Type | Coupon Price | Yield
|
| $1,765,000 | 2032 | Serial | 3.5% | 109.018 2.39%
|
| $2,625,000 | 2033 | Serial | 3.5% | 108.337 2.47%
|
| $3,365,000 | 2034 | Serial | 3.5% | 107.746 2.54%
|
| $42,245,000 | 2039 | Term | 4% | 112.385 2.47%
|
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