2015 Charter School Bond Issuance: A Complete History Volume 3
Charter School Bond Issuance: A Complete History Volume 3 (2015 Bond Study) is the latest LISC-published report on the subject, providing charter school capital market professionals with comprehensive data and analysis. These publications continue to provide greater transparency and information to all sector participants—investors, underwriters, rating agencies, bond and underwriter’s counsel, conduit issuers, states and municipalities, as well as charter schools and their authorizers. They are also designed to improve underwriting standards so that creditworthy charter schools can access the tax-exempt bond market at affordable rates and reasonable terms.
Volume 3 Highlights include:
- Updated bond information for the expanded universe of 818 charter school tax-exempt bond issues, including data on par amount, issuer, jurisdiction, rating, credit enhancement and underwriter. It further identifies which transactions remain outstanding, have matured or been refunded, or have defaulted.
- Cost and pricing information for virtually all transactions, including coupon, yield, spread to the triple-A Municipal Market Data Index (MMD) for select maturities, underwriter’s discount (UD) and costs of issuance (COI).
- Repayment performance of charter school borrowers and details of the disclosed reasons why borrowers failed to meet debt service requirements on defaulted transactions.
- Trends evident in the charter school bond sector.
