Published on 3/12/2012 in the Prospect News Municipals Daily.
New Issue: San Diego Unified School District sells $122.3 million of G.O. bonds
By Sheri Kasprzak
New York, March 12 - The San Diego Unified School District priced $122,304,271.70 of series 2012R dedicated unlimited ad valorem tax general obligation refunding bonds, according to an official statement.
The deal included $65,434,441.70 of series 2012R-1 capital appreciation bonds and $56,869,830 of series 2012R-2 convertible capital appreciation bonds.
The 2012R-1 bonds are due 2029 to 2031 with coupons from 5% to 5.08%, all priced at par. The 2012R-2 bonds are due 2040 and 2041, both with 6.625% coupons priced at par.
The bonds were sold through Citigroup Global Markets Inc. The co-managers were De La Rosa & Co. Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC.
Proceeds will be used to purchase, defease or cancel outstanding G.O. bonds.
| Issuer: | San Diego Unified School District
|
| Issue: | Series 2012R dedicated unlimited ad valorem tax general obligation refunding bonds
|
| Amount: | $122,304,271.70
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), De La Rosa & Co. Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | March 1
|
| Settlement date: | March 15
|
|
|
| $65,434,441.70 series 2012R-1 capital appreciation bonds
|
| Amount | Maturity | Maturity Value | Type | Coupon | Price
|
| $9,217,883.89 | 2029 | $21,655,000 | Serial | 5% | 100
|
| $32,801,371.05 | 2030 | $81,395,000 | Serial | 5.03% | 100
|
| $23,415,186.80 | 2031 | $61.64 million | Serial | 5.08% | 100
|
|
|
| $56,869,830 series 2012R-2 convertible capital appreciation bonds
|
| Amount | Maturity | Maturity Value | Type | Coupon | Price
|
| $30,316,615 | 2040 | $99.89 million | Serial | 6.625% | 100
|
| $26,553,215 | 2041 | $87.49 million | Serial | 6.625% | 100
|
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