By Sheri Kasprzak
New York, Oct. 13 - The Dormitory Authority of the State of New York sold $78.085 million in series 2010 revenue bonds on Friday for Rochester Institute of Technology, according to an official statement.
The bonds were sold through RBC Capital Markets Corp. and BNY Mellon Capital Markets LLC.
The bonds are due 2011 to 2025 with term bonds due 2028, 2032 and 2040. The coupons range from 3% to 5%, and yields range from 0.6% to 3.78%. The 2028 bonds have a 4.125% coupon to yield 4.25%. The 2032 bonds have a 4.25% coupon to yield 4.35%, and the 2040 bonds have a 5% coupon to yield 4.2%.
Proceeds will be used to construct an academic building to house the Kate Gleason College of Engineering's biomedical and chemical engineering programs, to construct a green data center, to expand the Frank Ritter Ice Arena locker rooms, to improve campus walkways and make other campus-wide improvements, as well as to refund the institute's series 2002A bonds.
| Issuer: | Dormitory Authority of the State of New York/Rochester Institute of Technology
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $78.085 million
|
| Type: | Negotiated
|
| Underwriters: | RBC Capital Markets Corp. and BNY Mellon Capital Markets LLC (lead)
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 21
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2011 | Serial | 3% | 0.60%
|
| 2012 | Serial | 3% | 1.03%
|
| 2013 | Serial | 4% | 1.27%
|
| 2014 | Serial | 4% | 1.53%
|
| 2015 | Serial | 4% | 1.84%
|
| 2016 | Serial | 4% | 2.14%
|
| 2017 | Serial | 5% | 2.48%
|
| 2018 | Serial | 5% | 2.75%
|
| 2019 | Serial | 5% | 2.96%
|
| 2020 | Serial | 5% | 3.15%
|
| 2021 | Serial | 5% | 3.35%
|
| 2022 | Serial | 5% | 3.46%
|
| 2023 | Serial | 5% | 3.59%
|
| 2024 | Serial | 5% | 3.70%
|
| 2025 | Serial | 5% | 3.78%
|
| 2028 | Term | 4.125% | 4.25%
|
| 2032 | Term | 4.25% | 4.35%
|
| 2040 | Term | 5% | 4.20%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
