Published on 2/13/2015 in the Prospect News Municipals Daily.
New Issue: Cherokee County School System, Ga., sells $108.96 million G.O. bonds
By Sheri Kasprzak
New York, Feb. 13 – The Cherokee County School System of Georgia sold $108.96 million of series 2015 general obligation bonds, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through Citigroup Global Markets Inc.
The bonds are due 2018 to 2019 and 2021 to 2033 with 4% to 5% coupons and 0.73% to 2.75% yields.
Proceeds will be used to construct new school facilities and administrative facilities, as well as to renovate existing school buildings.
Issuer: | Cherokee County School System
|
Issue: | Series 2015 general obligation bonds
|
Amount: | $108.96 million
|
Type: | Negotiated
|
Underwriter: | Citigroup Global Markets Inc.
|
Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
Pricing date: | Feb. 6
|
Settlement date: | March 3
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$675,000 | 2018 | Serial | 5% | 112.276 | 0.73%
|
$1.66 million | 2019 | Serial | 5% | 115.554 | 0.94%
|
$1.45 million | 2021 | Serial | 5% | 120.479 | 1.38%
|
$3,745,000 | 2022 | Serial | 5% | 122.086 | 1.61%
|
$4,685,000 | 2023 | Serial | 5% | 123.329 | 1.82%
|
$5.74 million | 2024 | Serial | 5% | 124.373 | 2.00%
|
$6,975,000 | 2025 | Serial | 5% | 125.417 | 2.14%
|
$13.93 million | 2026 | Serial | 5% | 123.905 | 2.29%
|
$19.08 million | 2027 | Serial | 5% | 122.612 | 2.42%
|
$5 million | 2028 | Serial | 4% | 111.114 | 2.71%
|
$18,105,000 | 2028 | Serial | 5% | 121.726 | 2.51%
|
$5.04 million | 2029 | Serial | 5% | 121.237 | 2.56%
|
$5,295,000 | 2030 | Serial | 5% | 120.75 | 2.61%
|
$5.57 million | 2031 | Serial | 5% | 120.266 | 2.66%
|
$5,855,000 | 2032 | Serial | 5% | 119.784 | 2.71%
|
$6,155,000 | 2033 | Serial | 5% | 119.4 | 2.75%
|
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