Published on 5/11/2012 in the Prospect News Municipals Daily.
New Issue: San Diego Unified School District prices $149.99 million property tax G.O. bonds
By Sheri Kasprzak
New York, May 11 - The San Diego Unified School District of California came to market with $144,998,824 of election of 2008 series 2012E dedicated ad valorem property tax general obligation capital appreciation bonds, according to a pricing sheet.
The bonds (Aa2/AA-/) were sold through De La Rosa & Co. Inc. and J.P. Morgan Securities LLC. The co-managers were Citigroup Global Markets Inc. and Goldman Sachs & Co.
The zero-coupon bonds are due 2032 to 2036 with term bonds due in 2042, 2047, 2049 and 2051. The 2042 bonds were priced at 35.282 and the 2047 bonds were priced at 34.429. The 2049 bonds were priced at 13.848 and the 2051 bonds were priced at 12.075.
Proceeds will be used to repair outdated restrooms, plumbing and roofs; upgrade classrooms and laboratories; improve safety measures; purchase up-to-date technology; and make other improvements to classrooms and school facilities.
| Issuer: | San Diego Unified School District
|
| Issue: | Election of 2008 series 2012E dedicated ad valorem property tax general obligation capital appreciation bonds
|
| Amount: | $144,998,824
|
| Type: | Negotiated
|
| Underwriters: | De La Rosa & Co. Inc. and J.P. Morgan Securities LLC (lead), Citigroup Global Markets Inc. and Goldman Sachs & Co. (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | May 10
|
| Settlement date: | May 24
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $7,798,224 | 2032 | Serial | 0% | 37.862
|
| $3,563,112 | 2033 | Serial | 0% | 35.56
|
| $3,735,792 | 2034 | Serial | 0% | 33.281
|
| $3,893,008 | 2035 | Serial | 0% | 31.169
|
| $4,036,881 | 2036 | Serial | 0% | 29.221
|
| $27,754,585 | 2042 | Term | 0% | 35.282
|
| $63,631,678 | 2047 | Term | 0% | 34.429
|
| $18,140,188 | 2049 | Term | 0% | 13.848
|
| $17,445,356 | 2051 | Term | 0% | 12.075
|
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