Published on 12/9/2014 in the Prospect News Municipals Daily.
New Issue: Clemson University, S.C., sells $50.5 million athletic facilities debt
By Sheri Kasprzak
New York, Dec. 9 – Clemson University of South Carolina priced $50.48 million of series 2014 athletic facilities revenue bonds, according to a pricing sheet.
The bonds (Aa3) were sold competitively, but the issuer did not immediately return calls for the winning bidder Tuesday.
The deal included $41.24 million of series 2014A bonds and $9.24 million of series 2014B taxable bonds.
The 2014A bonds are due 2015 to 2041 with a term bond due in 2045. The serial coupons range from 2% to 5% with 0.2% to 3.902% yields. The 2045 bonds have a 4% coupon priced at 102.127 to yield 3.75%.
The 2014B bonds are due 2016 to 2027 with 2% to 4% coupons and yields from 0.6% to 3.35%.
Proceeds will be used to reimburse the university for costs associated with the construction of a baseball field and football field.
| Issuer: | Clemson University
|
| Issue: | Series 2014 athletic facilities revenue bonds
|
| Amount: | $50.48 million
|
| Type: | Competitive
|
| Rating: | Moody’s: Aa3
|
| Pricing date: | Dec. 9
|
| Settlement date: | Dec. 18
|
|
|
| $41.24 million series 2014A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $65,000 | 2015 | Serial | 2% | 100.664 | 0.20%
|
| $65,000 | 2016 | Serial | 2% | 102.113 | 0.45%
|
| $780,000 | 2017 | Serial | 5% | 109.887 | 0.78%
|
| $785,000 | 2018 | Serial | 5% | 113.041 | 1.05%
|
| $815,000 | 2019 | Serial | 5% | 115.435 | 1.35%
|
| $845,000 | 2020 | Serial | 5% | 117.312 | 1.62%
|
| $880,000 | 2021 | Serial | 5% | 118.512 | 1.90%
|
| $920,000 | 2022 | Serial | 2% | 99.319 | 2.10%
|
| $930,000 | 2023 | Serial | 5% | 121.294 | 2.20%
|
| $2,175,000 | 2024 | Serial | 5% | 122.638 | 2.30%
|
| $2,285,000 | 2025 | Serial | 5% | 123.222 | 2.45%
|
| $955,000 | 2026 | Serial | 5% | 122.197 | 2.55%
|
| $1,015,000 | 2027 | Serial | 5% | 121.181 | 2.65%
|
| $1.17 million | 2028 | Serial | 5% | 120.376 | 2.73%
|
| $1,225,000 | 2029 | Serial | 3% | 98.388 | 3.14%
|
| $1,265,000 | 2030 | Serial | 3% | 97.228 | 3.23%
|
| $1.3 million | 2031 | Serial | 3.125% | 97.5 | 3.324%
|
| $1.34 million | 2032 | Serial | 3.25% | 98. | 3.403%
|
| $1,385,000 | 2033 | Serial | 3.25% | 97 | 3.472%
|
| $1.43 million | 2034 | Serial | 3.375% | 98 | 3.518%
|
| $1.48 million | 2035 | Serial | 3.5% | 98.5 | 3.604%
|
| $1.53 million | 2036 | Serial | 3.5% | 97.75 | 3.652%
|
| $1,585,000 | 2037 | Serial | 3.625% | 98.5 | 3.724%
|
| $1.64 million | 2038 | Serial | 3.75% | 99 | 3.815%
|
| $1,705,000 | 2039 | Serial | 3.75% | 98.5 | 3.845%
|
| $1,765,000 | 2040 | Serial | 3.75% | 98 | 3.874%
|
| $1,835,000 | 2041 | Serial | 3.75% | 97.5 | 3.902%
|
| $8.07 million | 2045 | Term | 4% | 102.127 | 3.75%
|
|
|
| $9.24 million series 2014B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $775,000 | 2016 | Serial | 2% | 101.906 | 0.60%
|
| $795,000 | 2017 | Serial | 4% | 106.763 | 1.10%
|
| $825,000 | 2018 | Serial | 4% | 108.182 | 1.50%
|
| $860,000 | 2019 | Serial | 4% | 108.983 | 1.85%
|
| $890,000 | 2020 | Serial | 4% | 109.332 | 2.15%
|
| $930,000 | 2021 | Serial | 2.4% | 100 | 2.40%
|
| $950,000 | 2022 | Serial | 2.6% | 100 | 2.60%
|
| $975,000 | 2023 | Serial | 2.8% | 100 | 2.80%
|
| $1 million | 2024 | Serial | 3% | 100 | 3.00%
|
| $1.03 million | 2025 | Serial | 3% | 98.679 | 3.15%
|
| $110,000 | 2026 | Serial | 3.15% | 99.053 | 3.25%
|
| $100,000 | 2027 | Serial | 3.25% | 98.991 | 3.35%
|
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