Published on 4/19/2013 in the Prospect News Municipals Daily.
New Issue: San Diego Unified School District prices $414 million of G.O. bonds
By Sheri Kasprzak
New York, April 19 - The San Diego Unified School District sold $414 million of election of 2012 series 2013C general obligation bonds, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through Loop Capital Markets LLC.
The bonds are due 2015 and 2019 to 2032 with term bonds due in 2035, 2038 and 2042. The serial coupons range from 0.50% to 5%. The 2035 bonds have a 5% coupon priced at 115.421. The 2038 bonds have a 4% coupon priced at 102.433 and the 2042 bonds have a 4% coupon priced at 102.178.
Proceeds will be used to reconstruct, repair, rehabilitate and improve existing school facilities, including classrooms, libraries, bathrooms, roofs and other school property.
| Issuer: | San Diego Unified School District
|
| Issue: | Election of 2012 series 2013C general obligation bonds
|
| Amount: | $414 million
|
| Type: | Negotiated
|
| Underwriters: | Loop Capital Markets LLC (lead), Citigroup Global Markets Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | April 18
|
| Settlement date: | April 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $7 million | 2015 | Serial | 0.50% | 100
|
| $905,000 | 2019 | Serial | 2% | 104.803
|
| $1,415,000 | 2020 | Serial | 2% | 103.731
|
| $1,945,000 | 2021 | Serial | 2% | 102.201
|
| $2.5 million | 2022 | Serial | 4% | 117.225
|
| $3,135,000 | 2023 | Serial | 3% | 107.535
|
| $3.77 million | 2024 | Serial | 5% | 124.15
|
| $4.52 million | 2025 | Serial | 5% | 122.625
|
| $5.32 million | 2026 | Serial | 5% | 121.023
|
| $875,000 | 2027 | Serial | 3% | 98.293
|
| $5,295,000 | 2027 | Serial | 5% | 119.838
|
| $4.57 million | 2028 | Serial | 4% | 107.163
|
| $2,515,000 | 2028 | Serial | 5% | 118.958
|
| $8,055,000 | 2029 | Serial | 5% | 118.086
|
| $8,095,000 | 2030 | Serial | 5% | 117.509
|
| $10.2 million | 2031 | Serial | 5% | 117.031
|
| $13,845,000 | 2032 | Serial | 5% | 116.554
|
| $42,315,000 | 2035 | Term | 5% | 115.421
|
| $83.42 million | 2038 | Term | 4% | 102.433
|
| $204,305,000 | 2042 | Term | 4% | 102.178
|
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