Published on 1/12/2011 in the Prospect News Municipals Daily.
New Issue: Walled Lake Consolidated School, Mich., sells downsized $49.49 million G.O. bonds
By Sheri Kasprzak
New York, Jan. 12 - The Walled Lake Consolidated School District of Michigan sold $49.485 million of series 2011 general obligation refunding bonds on Wednesday, according to a pricing sheet. The offering was downsized from $51.175 million.
The bonds were sold through Stifel, Nicolaus & Co. Inc. with Edward Jones & Co. and Fifth Third Securities Inc. as the co-managers.
The bonds are due 2013 to 2022 with coupons from 2% to 5%.
Proceeds will be used to refund existing debt.
Issuer: | Walled Lake Consolidated School District
|
Issue: | Series 2011 general obligation refunding bonds
|
Amount: | $49.485 million
|
Type: | Negotiated
|
Underwriters: | Stifel, Nicolaus & Co. Inc. (lead), Edward Jones & Co. and Fifth Third Securities Inc. (co-managers)
|
Pricing date: | Jan. 12
|
Settlement date: | March 2
|
|
Amount | Maturity | Type | Coupon | Price
|
$5.03 million | 2013 | Serial | 2% | 100.464
|
$4.315 million | 2014 | Serial | 5% | 108.445
|
$2 million | 2015 | Serial | 2.375% | 98.92
|
$2.875 million | 2015 | Serial | 4% | 105.286
|
$125,000 | 2016 | Serial | 4% | 104.698
|
$5.26 million | 2016 | Serial | 5% | 109.447
|
$600,000 | 2017 | Serial | 3% | 98.226
|
$825,000 | 2017 | Serial | 4% | 103.758
|
$3.71 million | 2017 | Serial | 5% | 109.29
|
$750,000 | 2018 | Serial | 3.5% | 98.809
|
$2.4 million | 2018 | Serial | 4% | 101.931
|
$1.925 million | 2018 | Serial | 5% | 108.175
|
$5 million | 2019 | Serial | 5% | 107.117
|
$4.935 million | 2020 | Serial | 5% | 105.637
|
$4.89 million | 2021 | Serial | 5% | 104.285
|
$4.845 million | 2022 | Serial | 5% | 103.279
|
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