Transaction Overview

Janney Montgomery Scott served as the sole managing underwriter for a $22,835,000 General Obligation Bond issue for The School District of Pittsburgh.  This issue carried a rating of AA (AG Insured) from S&P and an underlying rating of A1 from Moody’s.  Bond proceeds were used to refund a portion of the District’s General Obligation Bonds, Series of 2015 and all of the District’s General Obligation Bonds, Series 2016, creating debt service savings for the District. The was Janney’s 17th senior managed transaction for the District dating back to 2008 totaling over $425 million.

About The School District of Pittsburgh

The School District of Pittsburgh is the second largest school system in the Commonwealth of Pennsylvania, providing a full range of educational services to students in grades pre-kindergarten through grade 12 who reside in the City of Pittsburgh and the Borough of Mt. Oliver. The School District’s 2024 enrollment included 19,764 students (Pre-K to 12) with 18,380 (K-12) attending 57 schools. The District offers programs for general education, special education, vocational education, and early childhood education.