By Sheri Kasprzak
New York, April 22 - The Charleston County School District of South Carolina sold $84,415,000 of series 2014 general obligation bond anticipation notes, according to a pricing sheet.
The offering included $34.55 million of series 2014A notes and $49,865,000 of series 2014B notes.
The 2014A notes are due Nov. 4, 2014 and have a 5% coupon priced at 102.407 to yield 0.1%.
The 2014B notes are due May 6, 2015 and have a 0.75% coupon priced at 100.597 to yield 0.15%.
The notes (MIG1) were sold competitively. BofA Merrill Lynch took the series 2014A notes at a 0.1% true interest cost, and J.P. Morgan Securities LLC won the 2014B portion at a 0.15% TIC, said Michael Bobby, chief of finance and operations for the district.
Proceeds will be used to finance capital projects and repay the district's series 2013B BANs.
| Issuer: | Charleston County School District
|
| Issue: | Series 2014 general obligation bond anticipation notes
|
| Amount: | $84,415,000
|
| Type: | Competitive
|
| Underwriters: | BofA Merrill Lynch (winner for 2014A) and J.P. Morgan Securities LLC (winner for 2014B)
|
| True interest cost: | 0.1% (for 2014A) and 0.15% (for 2014B)
|
| Rating: | Moody's: MIG1
|
| Pricing date: | April 22
|
| Settlement date: | May 7
|
|
|
| $34.55 million series 2014A notes
|
| Maturity | Type | Coupon | Price | Yield
|
| Nov. 4, 2014 | Term | 5% | 102.407 | 0.10%
|
|
|
| $49,865,000 series 2014B notes
|
| Maturity | Type | Coupon | Price | Yield
|
| May 6, 2015 | Term | 0.75% | 100.597 | 0.15%
|
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