By Sheri Kasprzak
New York, March 2 - The Massachusetts Development Finance Agency priced $177.735 million in series 2010 revenue bonds for Brandeis University on Thursday, according to an official statement.
The offering included $82.325 million in series 2010-O1 bonds and $95.41 million in series 2010-O2 bonds.
The bonds (A1/A+/) were sold through senior manager J.P. Morgan Securities Inc. and co-manager Barclays Capital Inc.
The 2010-O1 bonds are due 2013 to 2030 with 3% to 5% coupons and yields from 1.53% to 4.57%. The O-1 bonds also have term bonds due 2035 and 2040. The 5% 2035 bonds are priced to yield 4.75% and the 5% 2040 bonds are priced to yield 4.84%.
The 2010-O2 bonds are due 2012 to 2028 with 3% to 5% coupons and yields from 1.2% to 4.4%.
Proceeds will be used to refund existing debt.
Brandeis University is located in Waltham, Mass.
| Issuer: | Massachusetts Development Finance Agency/Brandeis University
|
| Issue: | Series 2010 revenue bonds
|
| Amount: | $177.735 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. (lead); Barclays Capital Inc. (co-manager)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 9
|
|
|
| Series 2010-O1
|
| Maturity | Type | Coupon | Yield
|
| 2013 | Serial | 3% | 1.53%
|
| 2014 | Serial | 3% | 1.90%
|
| 2015 | Serial | 4% | 2.35%
|
| 2016 | Serial | 4% | 2.78%
|
| 2017 | Serial | 5% | 3.11%
|
| 2018 | Serial | 5% | 3.39%
|
| 2019 | Serial | 5% | 3.56%
|
| 2020 | Serial | 5% | 3.67%
|
| 2021 | Serial | 5% | 3.76%
|
| 2022 | Serial | 5% | 3.82%
|
| 2023 | Serial | 5% | 3.91%
|
| 2024 | Serial | 5% | 4.01%
|
| 2025 | Serial | 5% | 4.11%
|
| 2026 | Serial | 5% | 4.21%
|
| 2027 | Serial | 5% | 4.31%
|
| 2028 | Serial | 5% | 4.40%
|
| 2029 | Serial | 5% | 4.49%
|
| 2030 | Serial | 5% | 4.57%
|
| 2035 | Term | 5% | 4.75%
|
| 2040 | Term | 5% | 4.84%
|
|
|
| Series 2010-O2
|
| Maturity | Type | Coupon | Yield
|
| 2012 | Serial | 3% | 1.20%
|
| 2013 | Serial | 3% | 1.53%
|
| 2014 | Serial | 3% | 1.90%
|
| 2015 | Serial | 4% | 2.35%
|
| 2016 | Serial | 4% | 2.78%
|
| 2017 | Serial | 5% | 3.11%
|
| 2018 | Serial | 5% | 3.39%
|
| 2019 | Serial | 5% | 3.56%
|
| 2020 | Serial | 5% | 3.67%
|
| 2021 | Serial | 5% | 3.76%
|
| 2022 | Serial | 5% | 3.82%
|
| 2023 | Serial | 5% | 3.91%
|
| 2024 | Serial | 5% | 4.01%
|
| 2025 | Serial | 5% | 4.11%
|
| 2026 | Serial | 5% | 4.21%
|
| 2027 | Serial | 5% | 4.31%
|
| 2028 | Serial | 5% | 4.40%
|
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