Published on 6/24/2014 in the Prospect News Municipals Daily.
New Issue: Washoe County School, Nev., prices $49.15 million G.O. refunding bonds
By Sheri Kasprzak
New York, June 24 – The Washoe County School District of Nevada priced $49,145,000 of series 2014 general obligation refunding bonds, according to a pricing sheet. The deal was downsized from $50.27 million.
The deal included $40 million of series 2014A bonds and $9,145,000 of series 2014B bonds.
The 2014A bonds are due 2020 to 2026 with 5% coupons and 1.67% to 2.75% yields.
The 2014B bonds are due 2015, 2017 to 2018 and 2020 with 2% to 5% coupons and 0.13% to 1.85% yields.
Proceeds will be used to refund existing G.O. debt.
| Issuer: | Washoe County School District, Nev.
|
| Issue: | Series 2014 general obligation refunding bonds
|
| Amount: | $49,145,000
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA
|
| Pricing date: | June 24
|
| Settlement date: | July 15
|
|
|
| $40 million series 2014A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,525,000 | 2020 | Serial | 5% | 118.567 | 1.67%
|
| $6,375,000 | 2021 | Serial | 5% | 119.469 | 1.96%
|
| $7,205,000 | 2022 | Serial | 5% | 120.148 | 2.20%
|
| $7,575,000 | 2023 | Serial | 5% | 120.763 | 2.39%
|
| $7.95 million | 2024 | Serial | 5% | 121.563 | 2.52%
|
| $2.24 million | 2025 | Serial | 5% | 120.302 | 2.65%
|
| $5.13 million | 2026 | Serial | 5% | 119.343 | 2.75%
|
|
|
| $9,145,000 series 2014B bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $4.55 million | 2015 | Serial | 2% | 101.639 | 0.13%
|
| $1,915,000 | 2017 | Serial | 5% | 111.954 | 0.79%
|
| $1 million | 2018 | Serial | 5% | 114.436 | 1.18%
|
| $1.68 million | 2020 | Serial | 5% | 117.465 | 1.85%
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