By Sheri Kasprzak
New York, April 30 - The California Educational Facilities Authority sold $301.69 million of series U revenue bonds for Stanford University, according to a pricing sheet. The deal was upsized from $240 million.
The bonds (Aaa/AAA/AAA) were sold through Goldman Sachs & Co. and Barclays.
The deal included $262.33 million of series U-3 bonds and $39.36 million of series U-4 bonds.
The series U-3 bonds are due June 1, 2043 and have a 5% coupon priced at 134.576. The U-4 bonds are due June 1, 2043 and have a 5% coupon priced at 134.576.
Proceeds will be used to redeem taxable commercial paper and to refund the university's series P revenue bonds.
| Issuer: | California Educational Facilities Authority/Stanford University
|
| Issue: | Series U revenue bonds
|
| Amount: | $301.69 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman Sachs & Co. and Barclays (lead), Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Prager & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | April 30
|
| Settlement date: | May 15
|
|
|
| $262.33 million series U-3 bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2043 | Term | 5% | 134.576
|
|
|
| $39.36 million series U-4 bonds
|
| Maturity | Type | Coupon | Price
|
| June 1, 2043 | Term | 5% | 134.576
|
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