By Sheri Kasprzak
New York, Oct. 23 – The North Carolina Capital Facilities Finance Agency sold $370.87 million of series 2015B revenue bonds for Duke University, according to a pricing sheet. The deal was upsized from $370 million.
The bonds (Aa1/AA+) were sold through Morgan Stanley & Co. LLC.
The bonds are due in 2041 and 2055. The 2041 bonds have a 5% coupon priced at 115.492, and the 2055 bonds have a 5% coupon priced at 112.068.
Proceeds will be used to refund the university’s series 2005A bonds and commercial paper notes.
| Issuer: | North Carolina Capital Facilities Finance Agency/Duke University
|
| Issue: | Series 2015B revenue bonds
|
| Amount: | $370.87 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Barclays and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Pricing date: | Oct. 22
|
| Settlement date: | Nov. 18
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $78.36 million | 2041 | Term | 5% | 115.492
|
| $292.51 million | 2055 | Term | 5% | 112.068
|
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