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SUNNYVALE, CA – Sunnyvale School District successfully priced its 2026 General Obligation Refunding Bonds on May 7, 2026, generating more than $6.77 million in savings for local taxpayers over the life of the bonds.
Despite recent market volatility, the District entered the bond market on a day of relative stability and received exceptionally strong investor interest. The District’s $81.4 million bond offering attracted more than $175.8 million in orders from 27 institutional investors, demonstrating strong confidence in the District’s financial strength and long-term stability.
The strong demand enabled the District, under the leadership of Superintendent Gudiel Crosthwaite, Ph.D., and stewardship of the Board of Education, to secure lower interest rates across multiple bond maturities. As a result, the financing exceeded the savings projections originally presented to the Board of Education on March 26, 2026.
A major contributor to the successful sale was the District’s recently affirmed “AAA” credit rating from Standard & Poor’s. The highest possible credit rating places Sunnyvale School District among a select group of public agencies nationwide recognized for exceptional fiscal management and creditworthiness. This distinction allows the District to access the most favorable borrowing rates available, maximizing the value of taxpayer dollars.
“We are extremely pleased with these results, which will provide meaningful long-term savings for our taxpayers,” said Superintendent Gudiel Crosthwaite, Ph.D. “Our continued ‘AAA’ credit rating reflects the District’s strong financial stewardship and helped us secure highly favorable rates in a challenging market environment.”
The financing team for the transaction included Stifel as bond underwriter, Isom Advisors as municipal advisor, and Dannis Woliver Kelley as bond and disclosure counsel. With the execution of the bond purchase agreement at pricing, the lower interest rates are now locked in. The bonds are scheduled to close on June 4, 2026.