Pittsburgh Schools Put $69M Refunding on Tomorrow's Slate

D'Ambrosio, Gillian
June 2003
Bond Buyer;6/25/2003, Vol. 344 Issue 31664, p5
Trade Publication
The Pittsburgh School District, Pennsylvania is `hoping to catch a downdraft in interest rates, is tentatively slated to sell about $69 million of refunding general obligation bonds on June 26, 2003. While the structure of the deal will be determined by market conditions on the day of the sale, the bonds will maintain their original maturities through 2018 and will be issued at a fixed rate. UBS Financial Services Inc. is the senior underwriter on the deal, while Citigroup Global Markets Inc., PNC Capital Markets Inc., and Loop Capital Markets LLC serve as co-managers. Moody's Investors Service Inc. assigned its A2 underlying rating to the bonds and an A1 enhanced rating to the bonds, based on Pennsylvania's Act 150 School District Intercept Program, which calls for undistributed state aid to be funneled to bondholders in the case of a default.


Related Articles

  • Results of Competitive Sales.  // Bond Buyer;12/29/2005, Vol. 354 Issue 32288, p20 

    The article presents the official notice of sale of School District of the City of Iron Mountain County of Dickinson, Michigan. The information included in the notice are state qualifications, interest rate and bidding details, purpose and security, bond details, award of bonds, legal opinion,...

  • GISD school board considers refunding bonds. RUSHIN, CHERRY // Graham Leader;12/23/2012, Vol. 137 Issue 37, p2A 

    The article informs that the Graham Independent School District (ISD) School Board in Graham, Young County, Texas has reviewed refunds of its school building bonds at low interest rates.

  • Municipal Yields Little Changed: LAUSD Begins Sale of $2B in GOs. Chesla, Nicholas; Monsarrat, Sean // Bond Buyer;2/19/2003, Vol. 343 Issue 31575, p2 

    Reports on beginning of sale of multibillion dollar general obligation bonds owned by Los Angeles, California-based Unified School District; Ratings assigned by several rating agencies; Yield for re-offered serial bonds; Insurer of the bonds.

  • N.Y. State School District's $21M Sale Stands Alone Among Long-Term Deals. Fine, Jacob // Bond Buyer;12/29/2003, Vol. 346 Issue 31789, p6 

    No abstract available.

  • Results of Competitive Sales.  // Bond Buyer;7/21/2003, Vol. 345 Issue 31681, p29 

    Presents a list which reveals results of competitive sales of bonds by different states of the U.S. as of July 21, 2003. Details of bonds sold by different school districts of California; Maturity period of the bond issued by Campbell Union High School District of California; Information on...

  • Lower Interest Rates Spur Activity, But Lady Luck Plays Key Role, Too. Costello, Jan // Georgia Trend;Jul2001, Vol. 16 Issue 11, p119 

    Focuses on the preference for sales tax as a means of funding projects in Georgia. Amount generated through bond activities; Impact of lower interest rates on bond prices; Credit ratings of the obligation bonds handled by Atlanta Public Financial Management Senior Managing Consultant Brenton J....

  • Results of Negotiated Sales.  // Bond Buyer;3/13/2006, Vol. 355 Issue 32337, p14 

    The article presents data and charts related to sales of negotiated bonds issued by state authorities, school districts and state agencies in the United States as of March 2006. Entities that issued negotiated bonds were the Henderson State University Board of Trustees, the Janesville Union...

  • Results of Competitive Sales.  // Bond Buyer;3/13/2006, Vol. 355 Issue 32337, p23 

    The article presents data and charts related to sales of competitive bonds issued by state authorities, school districts and state agencies in the United States as of March 2006. Entities that issued competitive bonds were the Wyandotte County/Kansas City Unified Government, Paris Independent...

  • Suburban School Debt. O'Brien, Elizabeth // Bond Buyer;8/22/2005, Vol. 353 Issue 32201, p35 

    Reports that the Central Bucks School District will be selling $18.3 million of general obligation refunding bonds via competitive sale in Pennsylvania.


Read the Article


Sign out of this library

Other Topics