Transaction Details

Otsego Local School District

Municipal

Lead Bookrunner

On November 12, 2025, Baird served as sole managing underwriter for the Otsego Local School District’s (the District) $6,350,000 School Facilities Refunding Bonds, Series 2025 (the Bonds). The financing was structured in two series — $3,840,000 Series 2025A and $2,510,000 Series 2025B — with maturities from 2026 to 2032. The Bonds were non-callable and carried ratings of Aa1 (Enhanced) / A1 (Underlying).

During the order period, investor interest strengthened toward the close, with early demand focused on the 2026 and 2031–2032 maturities. Overall, investor demand was strong, with the Bonds 1–2 times subscribed through 2029 and 2.5–3 times subscribed on the longer maturities. The strong investor interest resulted in lower borrowing costs for the District, with yields reduced by 1 basis point in 2030–2031 and 3 basis points in 2032, where demand was strongest.

Through effective marketing and responsive pricing, Baird executed the refunding, achieving favorable rates and strong investor participation for the District.