Published on 2/24/2015 in the Prospect News Municipals Daily.
New Issue: Oak Creek-Franklin Joint School, Wis., sells $74.3 million G.O. bonds
By Sheri Kasprzak
New York, Feb. 24 – The Oak Creek-Franklin Joint School District of Wisconsin sold $74,305,000 of series 2015 general obligation refunding bonds, according to a pricing sheet.
The bonds were sold competitively.
The offering included $59,095,000 of series 2015A G.O. school building bonds and $15.21 million of series 2015B G.O. refunding bonds.
The 2015A bonds are due 2016 to 2035 with 3% to 4% coupons. The 2015B bonds are due 2017 to 2027 with 2% to 3% coupons.
Proceeds will be used to finance school building construction and improvement and to refund existing debt.
| Issuer: | Oak Creek-Franklin Joint School District
|
| Issue: | Series 2015 general obligation refunding bonds
|
| Amount: | $74,305,000
|
| Type: | Competitive
|
| Pricing date: | Feb. 24
|
| Settlement date: | April 1
|
|
|
| $59,095,000 series 2015A general obligation school building bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1 million | 2016 | Serial | 3% | 102.765
|
| $450,000 | 2017 | Serial | 3% | 104.826
|
| $450,000 | 2018 | Serial | 3% | 106.11
|
| $510,000 | 2019 | Serial | 3% | 107.212
|
| $380,000 | 2020 | Serial | 3% | 107.65
|
| $400,000 | 2021 | Serial | 4% | 113.494
|
| $1,095,000 | 2022 | Serial | 4% | 113.704
|
| $1.16 million | 2023 | Serial | 4% | 114.083
|
| $1.2 million | 2024 | Serial | 4% | 114.186
|
| $2.67 million | 2025 | Serial | 4% | 114.341
|
| $2,695,000 | 2026 | Serial | 4% | 113.01
|
| $2,795,000 | 2027 | Serial | 4% | 111.326
|
| $5.14 million | 2028 | Serial | 3.15% | 100
|
| $5,015,000 | 2029 | Serial | 3.3% | 100.254
|
| $5.19 million | 2030 | Serial | 3% | 97.995
|
| $5.38 million | 2031 | Serial | 4% | 107.065
|
| $5,575,000 | 2032 | Serial | 3.25% | 97.999
|
| $5,775,000 | 2033 | Serial | 3.75% | 102.519
|
| $5,995,000 | 2034 | Serial | 3.75% | 102.178
|
| $6.22 million | 2035 | Serial | 3.75% | 101.84
|
|
|
| $15.21 million series 2015B general obligation refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $185,000 | 2017 | Serial | 2% | 102.738 | 0.62%
|
| $1.61 million | 2018 | Serial | 2% | 103.038 | 0.97%
|
| $1,645,000 | 2019 | Serial | 2% | 103.154 | 1.19%
|
| $1.69 million | 2020 | Serial | 3% | 108.355 | 1.27%
|
| $1.75 million | 2021 | Serial | 3% | 107.979 | 1.60%
|
| $1,795,000 | 2022 | Serial | 3% | 107.586 | 1.84%
|
| $1,845,000 | 2023 | Serial | 2.5% | 103.304 | 2.05%
|
| $1.89 million | 2024 | Serial | 2.5% | 102.042 | 2.22%
|
| $1.1 million | 2025 | Serial | 3% | 104.566 | 2.37%
|
| $835,000 | 2026 | Serial | 2.5% | 97.176 | 2.80%
|
| $865,000 | 2027 | Serial | 2.75% | 97.496 | 3.00%
|
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