Published on 6/12/2012 in the Prospect News Municipals Daily.
New Issue: Sacramento Unified School District, Calif., sells $113.25 million of G.O. refunding bonds
By Sheri Kasprzak
New York, June 12 - Sacramento Unified School District of California sold $113,245,000 of series 2012 general obligation refunding bonds, said a term sheet.
The bonds (A1/A+/AA-) were sold through Stone & Youngberg and Morgan Stanley & Co. LLC.
The bonds are due 2013 to 2026 with term bonds due in 2029 and 2031. The serial coupons range from 2% to 5.25%. The 2029 bonds have a 4% coupon priced at par and the 2031 bonds have a 5% coupon priced at 110.382.
Proceeds will be used to refund the district's series 1999B-D, 2001 and 2002A G.O. bonds.
| Issuer: | Sacramento Unified School District, Calif.
|
| Issue: | Series 2012 general obligation refunding bonds
|
| Amount: | $113,245,000
|
| Type: | Negotiated
|
| Underwriters: | Stone & Youngberg and Morgan Stanley & Co. LLC
|
| Ratings: | Fitch: AA-
|
| Pricing date: | June 7
|
| Settlement date: | June 14
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,695,000 | 2013 | Serial | 2% | 101.617
|
| $3,925,000 | 2014 | Serial | 4% | 106.59
|
| $4.28 million | 2015 | Serial | 4% | 108.949
|
| $4,645,000 | 2016 | Serial | 4% | 110.986
|
| $5.17 million | 2017 | Serial | 4% | 112.107
|
| $5.6 million | 2018 | Serial | 4% | 112.612
|
| $6.28 million | 2019 | Serial | 4% | 112.594
|
| $6,675,000 | 2020 | Serial | 5% | 119.083
|
| $7.04 million | 2021 | Serial | 5% | 119.058
|
| $7,195,000 | 2022 | Serial | 5% | 119.149
|
| $3.85 million | 2023 | Serial | 5.25% | 118.913
|
| $4,295,000 | 2024 | Serial | 5.25% | 116.744
|
| $4,305,000 | 2025 | Serial | 5% | 113.064
|
| $4.62 million | 2026 | Serial | 5% | 112.341
|
| $26.94 million | 2029 | Term | 4% | 100
|
| $16.73 million | 2031 | Term | 5% | 110.382
|
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