By Sheri Kasprzak
New York, May 12 - The Van Buren Public Schools in Michigan priced $79.04 million in series 2009 unlimited tax general obligation Build America Bonds on Tuesday, said a sellside source familiar with the deal.
The bonds (Aa3/AA-/) were sold through senior manager Raymond James & Associates Inc. The co-managers were Fifth Third Securities Inc., Edward D. Jones & Co. LLP and Stifel, Nicolaus & Co. Inc.
The bonds are due 2010 to 2039, and have coupons from 1.64% to 6.58%, all priced at par.
Proceeds will be used to construct new school facilities.
Van Buren Public Schools is based in Belleville, Mich.
| Issuer: | Van Buren Public Schools
|
| Issue: | Series 2009 unlimited tax general obligation Build America Bonds
|
| Amount: | $79.04 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James & Associates Inc. (lead); Fifth Third Securities Inc.; Edward D. Jones & Co. LLP; and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Maturities: | 2010 to 2039
|
| Coupons: | 1.64%-6.58%
|
| Price: | Par
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | May 12
|
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