Bond and MLO News
Bond and MLO News
Update: Our Bond Issue Results in $30 Million Premium
Update: Our Bond Issue Results in $30 Million Premium
Due to excellent preparation by the Weld RE-5J leadership team including Chief Financial Officer, Michael Everest, Weld RE-5J School District’s bond issue on January 20th, 2021 exceeded all expectations. 23 unique investors put in over $300 million in orders for the district's $124.4 million in bonds for sale that day.
Due to excellent preparation by the Weld RE-5J leadership team including Chief Financial Officer, Michael Everest, Weld RE-5J School District’s bond issue on January 20th, 2021 exceeded all expectations. 23 unique investors put in over $300 million in orders for the district's $124.4 million in bonds for sale that day.
This significant demand generated a premium of more than $30 million for the District Project Fund which will enable second and third phases to lift all Weld RE-5J schools. The bond premium is the amount investors pay over the face value of the bonds and does not have to be paid back. In addition, the district's all-in interest rate was 2.32%, which is lower than expected.
This significant demand generated a premium of more than $30 million for the District Project Fund which will enable second and third phases to lift all Weld RE-5J schools. The bond premium is the amount investors pay over the face value of the bonds and does not have to be paid back. In addition, the district's all-in interest rate was 2.32%, which is lower than expected.
As a result, the district will be paying back less than anticipated while receiving more than projected. Funds will be available on February 2, 2021.
As a result, the district will be paying back less than anticipated while receiving more than projected. Funds will be available on February 2, 2021.
Lates Construction Update
Lates Construction Update
Watch the video below to see the latest update for the new construction projects of Elwell Elementary and Roosevelt High School.