Gahanna Jefferson Public Schools
Certificates of Participation, Series 2021
|Client & Transactional Partners||Gahanna Jefferson Public Schools||Our Role||Senior Manager|
On March 18, 2021, KeyBanc Capital Markets (“KBCM”) successfully closed the $48.0 million Series 2021 Certificates of Participation (School Facilities Project) (the “Certificates” or “2021 Certificates”) on behalf of the Gahanna-Jefferson Public Schools, OH (the “District”). The 2021 Certificates carried an underlying rating of ‘A1’ from Moody’s Investors Service and was wrapped with an insurance policy from Build America Mutual enhancing the rating to ‘AA’ by S&P Global Ratings. The Certificates were issued for the purpose of constructing, improving, furnishing and equipping of school facilities, including but not limited to constructing a new high school. The 2021 Certificates represent proportionate interest in the right to receive Rent paid by the Board of Education subject to annual appropriation. Constituents passed a 1.50 mill permanent improvement property tax levy at the ballot in November of 2020 for repayment of the Certificates. KBCM served as Senior Manager for the 2021 Bonds.