Broward County School Board, Fla., plans $214.98 million certificates

By Sheri Kasprzak

New York, March 15 – The Broward County School Board of Florida is expected to price $214,975,000 of series 2016 certificates of participation, according to a preliminary official statement.

The deal includes $196.15 million of series 2016A certificates and $18,825,000 of series 2016B certificates.

The 2016A COPs are due 2019 to 2033, and the 2016B COPs are due 2025 to 2027.

The certificates (Aa3/A+/A+) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC.

Proceeds will be used to refund the board’s series 2008A and 2009A COPs.

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