Pickerington Local School District, Ohio

Overview

Deal Type Debt Capital Markets
Size $89.93 Million
School Facilities Construction and Improvement UTGO Bonds
$30 Million
Certificates of Participation
Client & Transactional Partners Pickerington Local School District
Our Role Sole Manager

Summary

On March 15, 2023, KeyBanc Capital Markets (KBCM) successfully closed the $89.93 million Series 2023 School Facilities Construction and Improvement UTGO Bonds (the “Bonds” or “2023 Bonds”) and the $30 million Series 2023 Certificates of Participation (School Facilities Project) (the “Certificates” or “2023 Certificates”) on behalf of Pickerington Local School District, Ohio (the District). The 2023 Bonds and Certificates carried underlying ratings of Aa2 and Aa3, respectively, from Moody’s Investors Service.

The Bonds were issued for the purpose of expanding, renovating, and improving Central High School and North High School; constructing, furnishing and equipping one junior high school; acquiring, renovating, furnishing, and equipping existing facilities or constructing, furnishing, and equipping new facilities for school district purposes; and repairing, improving, and maintaining existing school buildings and facilities and retiring notes previously issued for those purposes. The Certificates were issued for the purpose of constructing, improving, furnishing, and equipping of school facilities and the acquisition the land and interests in land.

The Pickerington Local School District covers approximately 37 square miles, primarily in northwestern Fairfield County, with a small portion extending into Franklin County. As of October 2022, the District served approximately 11,604 students in grades Pre-K through 12 in its 15 schools, and an additional 175 students who attend the Eastland-Fairfield Career Center on a full-time basis. The District offers a comprehensive and advanced curriculum and a wide selection of extracurricular activities at all levels.

B I Deal Disclosure

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., member FINRA/SIPC (“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and by its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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