Published on 7/17/2015 in the Prospect News Municipals Daily.
New Issue: Independent School District No. 834, Minn., sells $105.26 million G.O.s
By Sheri Kasprzak
New York, July 17 – The Independent School District No. 834 of Minnesota sold $105.26 million of series 2015 general obligation bonds, according to a pricing sheet.
The bonds (Aa2) were sold competitively.
The deal included $90,565,000 of series 2015A G.O. school building bonds and $14,695,000 of series 2015B G.O. taxable other post-employment benefit bonds.
The 2015A bonds are due 2020 to 2037 with 3% to 5% coupons and 1.33% to 3.75% yields. The 2015B bonds are due 2017 to 2019 with 0.7% to 1.55% coupons all priced at par.
Proceeds will be used to acquire and better school sites and facilities and to crossover refund the 2017 through 2019 series 2009B G.O. taxable OPEB bonds.
| Issuer: | Independent School District No. 834, Minn.
|
| Issue: | Series 2015 general obligation bonds
|
| Amount: | $105.26 million
|
| Type: | Competitive
|
| Rating: | Moody’s: Aa2
|
| Pricing date: | July 16
|
| Settlement date: | Aug. 17
|
|
|
| $90,565,000 series 2015A G.O. school building bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $5,255,000 | 2020 | Serial | 5% | 115.825 | 1.33%
|
| $5.52 million | 2021 | Serial | 5% | 117.579 | 1.62%
|
| $5.79 million | 2022 | Serial | 5% | 118.615 | 1.92%
|
| $6,645,000 | 2023 | Serial | 5% | 119.687 | 2.13%
|
| $6,975,000 | 2024 | Serial | 5% | 120.809 | 2.28%
|
| $7,325,000 | 2025 | Serial | 5% | 119.62 | 2.42%
|
| $7,685,000 | 2026 | Serial | 5% | 118.361 | 2.57%
|
| $8.07 million | 2027 | Serial | 3% | 101.949 | 2.74%
|
| $8.32 million | 2028 | Serial | 4% | 107.341 | 3.01%
|
| $8.65 million | 2029 | Serial | 3% | 97.185 | 3.26%
|
| $2,235,000 | 2030 | Serial | 3.5% | 101.464 | 3.30%
|
| $2.31 million | 2031 | Serial | 3.5% | 100.874 | 3.38%
|
| $2,395,000 | 2032 | Serial | 3.75% | 101.888 | 3.49%
|
| $2,485,000 | 2033 | Serial | 3.75% | 101.156 | 3.59%
|
| $2.58 million | 2034 | Serial | 4% | 102.671 | 3.63%
|
| $2.68 million | 2035 | Serial | 4% | 102.378 | 3.67%
|
| $2,785,000 | 2036 | Serial | 4% | 102.086 | 3.71%
|
| $2.86 million | 2037 | Serial | 4% | 101.795 | 3.75%
|
|
|
| $14,695,000 series 2015B G.O. taxable other post-employment benefit bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,985,000 | 2017 | Serial | 0.70% | 100
|
| $4,835,000 | 2018 | Serial | 1.15% | 100
|
| $4,875,000 | 2019 | Serial | 1.55% | 100
|
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