New Issue: Troy School District, Mich., sells $52.71 million school building bonds

By Sheri Kasprzak

New York, Jan. 9 - The Troy School District of Michigan sold $52.71 million of series 2014 general obligation school building and site bonds, according to a pricing sheet.

The bonds were sold through Stifel, Nicolaus & Co. Inc.

The bonds are due 2015 to 2028 with 2% to 5% coupons and 0.32% to 3.93% yields.

Proceeds will be used to finance the renovation, construction, design and improvement of school facilities, as well as to acquire properties for school construction.

Issuer:	Troy School District, Mich.
Issue:	Series 2014 general obligation school building and site bonds
Amount:	$52.71 million
Type:	Negotiated
Underwriters:	Stifel, Nicolaus & Co. Inc. (lead), Comerica Securities Inc. and Fifth Third Securities Inc. (co-managers)
Pricing date:	Jan. 9
Settlement date:	Jan. 29
Amount	Maturity	Type	Coupon	Price	Yield
$3 million	2015	Serial	2%	102.103	0.32%
$3.81 million	2016	Serial	2%	103.268	0.54%
$4.35 million	2017	Serial	3%	107.155	0.77%
$2 million	2018	Serial	4%	112.023	1.10%
$2 million	2019	Serial	5%	117.345	1.55%
$2 million	2020	Serial	5%	117.554	2.00%
$2 million	2021	Serial	5%	116.78	2.46%
$2 million	2022	Serial	5%	116.111	2.80%
$2 million	2023	Serial	5%	114.921	3.13%
$2 million	2024	Serial	5%	113.897	3.32%
$5.9 million	2025	Serial	5%	112.389	3.49%
$6.1 million	2026	Serial	5%	111.165	3.63%
$7.6 million	2027	Serial	5%	109.785	3.79%
$7.95 million	2028	Serial	5%	108.595	3.93%

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