Refinancing Bonds Angie Banks, CFO/Treasurer January 12, 2016 - - PowerPoint PPT Presentation

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Refinancing Bonds Angie Banks, CFO/Treasurer January 12, 2016 - - PowerPoint PPT Presentation

Mar 17, 2023 383 likes •427 views

Refinancing Bonds Angie Banks, CFO/Treasurer January 12, 2016 Situation Opportunity to refinance all callable 2006 and 2009 HVAC bonds Current low interest rate environment will generate savings for the District Financial Impact

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SLIDE 1

Refinancing Bonds

Angie Banks, CFO/Treasurer

January 12, 2016

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SLIDE 2
  • Opportunity to refinance all callable 2006 and 2009 HVAC

bonds

  • Current low interest rate environment will generate

savings for the District

Situation

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SLIDE 3
  • $24 million total to be refinanced with varying maturities

from 2017 - 2021

  • Average coupon rate reduced from 4.75% to estimated

1.77%*

  • Total estimated cash savings over 5 years (net of fees) = $1.0

million*St. Louis Public School District

Stifel, Nicolaus & Company, Incorporated - Senior Underwriter Gilmore & Bell, P.C., Saulsberry & Associates - Co-Bond Counsel Thompson Coburn LLP, Richard G. Hughes & Associates, LLC - Co-Underwriters’ Counsel Robert Thomas CPA, LLC - Verification Agent UMB Bank, N.A. - Paying Agent / Escrow Agent

Financial Impact

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SLIDE 4
  • SAB approval to proceed with

refinancing

  • Bond pricing and final document

signatures

  • Closing

Next Steps

January 12, 2016 February 11, 2016 February 25, 2016