Published on 7/24/2012 in the Prospect News Municipals Daily.
New Issue: West Chester Area School District, Pa., sells $60.33 million G.O. bonds
By Sheri Kasprzak
New York, July 24 - The West Chester Area School District of Pennsylvania brought to market $60.33 million of series 2012 general obligation bonds, said a pricing sheet.
The offering included $21 million series 2012A G.O. bonds and $39.33 million of series 2012AA G.O. bonds.
The 2012A bonds are due 2023 to 2032 with 3% coupons. The 2012AA bonds are due 2014 to 2022 with 2% to 5% coupons.
The bonds were sold competitively with Janney Montgomery Scott LLC winning the bid. The true interest cost came in at 2.319065%.
Proceeds will be used to construct, improve, acquire and renovate new and existing school buildings within the district.
| Issuer: | West Chester Area School District, Pa.
|
| Issue: | Series 2012 general obligation bonds
|
| Amount: | $60.33 million
|
| Type: | Competitive
|
| Underwriters: | Janney Montgomery Scott LLC (winner)
|
| TIC: | 2.319065%
|
| Pricing date: | July 24
|
| Settlement date: | Aug. 28
|
|
|
| $21 million series 2012A G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,000 | 2023 | Serial | 3% | 105.613
|
| $5,000 | 2024 | Serial | 3% | 104.726
|
| $5,000 | 2025 | Serial | 3% | 103.848
|
| $5,000 | 2026 | Serial | 3% | 102.977
|
| $5,000 | 2027 | Serial | 3% | 102.545
|
| $3.95 million | 2028 | Serial | 3% | 102.115
|
| $4.07 million | 2029 | Serial | 3% | 101.517
|
| $4.19 million | 2030 | Serial | 3% | 100.923
|
| $4.32 million | 2031 | Serial | 3% | 100.332
|
| $4,445,000 | 2032 | Serial | 3% | 99.554
|
|
|
| $39.33 million series 2012AA G.O. bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $5,000 | 2014 | Serial | 2% | 102.556
|
| $110,000 | 2015 | Serial | 2% | 103.762
|
| $115,000 | 2016 | Serial | 2% | 104.757
|
| $115,000 | 2017 | Serial | 2% | 105.539
|
| $7,835,000 | 2018 | Serial | 5% | 122.159
|
| $8,295,000 | 2019 | Serial | 5% | 124.294
|
| $7,875,000 | 2020 | Serial | 5% | 125.984
|
| $7.36 million | 2021 | Serial | 4% | 119.267
|
| $7.62 million | 2022 | Serial | 4% | 120.017
|
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