2004 Center Grove School Building Corporation (Center Grove Community School Corporation)

Municipal
Center Grove Community School Corporation
Lead Bookrunner

Center Grove School building

Center Grove Community School Corporation is located in Johnson County, Indiana, just 20 minutes south of Indianapolis. Center Grove’s staff of more than 1,200+ is dedicated to the education of approximately 9,600 students in grades K through 12. The district is the 32nd largest in the state, with six elementary schools, two middle schools, and one high school. Center Grove Community School Corporation’s mission is to develop knowledgeable, confident, and responsible citizens through inspirational and innovative learning opportunities. Center Grove Community School Corporation needed financing to support facility improvement projects across their campuses including rooftop solar array installations and upgrades to the heating and air conditioning control systems. Baird has underwritten the most recent 16 debt issuances for the School.

Baird’s Indiana K-12 Public Finance team served as sole managing underwriter on the AA+ Enhanced/A+ $16,120,000 transaction for Center Grove Community School Corporation. Baird priced the Bonds during a difficult week of a high supply and rising interest rates. On the day of pricing, our underwriting desk had the 34-44 maturities sold, while the 25-33 maturities remained unsold. The desk made minor adjustments to scale and successfully completed the transaction. Baird worked to find participation from 14 institutional investors, which provided cost-effective interest rates for the School Corporation. In the following week, interest rates continued to rise, highlighting Baird’s ability to execute transaction in any market environment.

Municipal
Center Grove Community School Corporation
Lead Bookrunner
Issuer
2004 Center Grove School Building Corporation (Center Grove Community School Corporation)
State
Indiana
Type
K-12 Education
Par
$16,120,000
Role
Lead Bookrunner
Date
May 2024

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