Published on 2/20/2014 in the Prospect News Municipals Daily.
New Issue: Stockton Unified School District, Calif., prices $65 million G.O. bonds
By Sheri Kasprzak
New York, Feb. 20 - The Stockton Unified School District of California sold $65 million of series 2014 general obligation bonds, according to a pricing sheet.
The bonds (/A+/) were sold through senior manager De La Rosa & Co.
The bonds are due 2014 to 2034 with term bonds due in 2038 and 2042. The serial coupons range from 3% to 5% with 0.25% to 4.58% yields. The 2038 bonds have a 5% coupon priced at 102.856 to yield 4.65%. The 2042 bonds have a 4.5% coupon priced at 95.669 to yield 4.78% and a 5% coupon priced at 101.782 to yield 4.78%.
Proceeds will be used to finance capital improvement projects within the district.
| Issuer: | Stockton Unified School District
|
| Issue: | Series 2014 general obligation bonds
|
| Amount: | $65 million
|
| Type: | Negotiated
|
| Underwriter: | De La Rosa & Co.
|
| Rating: | Standard & Poor's: A+
|
| Pricing date: | Feb. 20
|
| Settlement date: | March 6
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.68 million | 2014 | Serial | 3% | 101.106 | 0.25%
|
| $2,535,000 | 2015 | Serial | 4% | 105.102 | 0.35%
|
| $260,000 | 2020 | Serial | 5% | 117.68 | 2.04%
|
| $380,000 | 2021 | Serial | 5% | 117.018 | 2.47%
|
| $510,000 | 2022 | Serial | 5% | 115.8 | 2.87%
|
| $650,000 | 2023 | Serial | 5% | 114.776 | 3.17%
|
| $800,000 | 2024 | Serial | 5% | 114.2 | 3.37%
|
| $960,000 | 2025 | Serial | 5% | 112.517 | 3.55%
|
| $1,135,000 | 2026 | Serial | 5% | 111.045 | 3.71%
|
| $1,325,000 | 2027 | Serial | 5% | 109.597 | 3.87%
|
| $1.53 million | 2028 | Serial | 5% | 108.793 | 3.96%
|
| $1,745,000 | 2029 | Serial | 4% | 97.967 | 4.18%
|
| $1.96 million | 2030 | Serial | 4% | 96.72 | 4.28%
|
| $2.19 million | 2031 | Serial | 4.125% | 97.032 | 4.37%
|
| $2,435,000 | 2032 | Serial | 4.125% | 95.942 | 4.45%
|
| $2.7 million | 2033 | Serial | 4.25% | 96.407 | 4.53%
|
| $2.98 million | 2034 | Serial | 4.25% | 95.651 | 4.58%
|
| $15,275,000 | 2038 | Term | 5% | 102.856 | 4.65%
|
| $5 million | 2042 | Term | 4.5% | 95.669 | 4.78%
|
| $16.95 million | 2042 | Term | 5% | 101.782 | 4.78%
|
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