Published on 4/19/2016 in the Prospect News Municipals Daily.
New Issue: Charleston County School District, S.C., sells $121.22 million BANs
By Sheri Kasprzak
New York, April 19 – The Charleston County School District of South Carolina sold $121.22 million of series 2016 general obligation bond anticipation notes on Tuesday, according to a pricing sheet.
The deal included $41.71 million of series 2016A notes and $79.51 million of series 2016B-C notes.
The 2016A notes are due Nov. 4, 2016 and have a 4% coupon priced at 101.765 to yield 0.48%. The 2016B-C notes are due May 2, 2017 and have a 5% coupon priced at 104.392 to yield 0.57%.
The notes (MIG1) were sold competitively.
Proceeds will be used to pay amounts due to the Charleston Educational Excellence Financing Corp., as well as pay principal and interest on the district’s series 2015B-C BANs.
| Issuer: | Charleston County School District
|
| Issue: | Series 2016 general obligation bond anticipation notes
|
| Amount: | $121.22 million
|
| Type: | Competitive
|
| Rating: | Moody’s: MIG1
|
| Pricing date: | April 19
|
| Settlement date: | May 3
|
|
|
| $41.71 million series 2016A BANs
|
| Maturity | Type | Coupon | Price | Yield
|
| Nov. 4, 2016 | Term | 4% | 101.765 | 0.48%
|
|
|
| $79.51 million series 2016B-C BANs
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $24,525,000 | May 2, 2017 | Term | 5% | 104.392 | 0.57%
|
| $54,985,000 | May 2, 2017 | Term | 5% | 104.392 | 0.57%
|
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