By Sheri Kasprzak
New York, Sept. 27 - The Minnesota Office of Higher Education priced $375 million of series 2012 adjustable-rate supplemental student loan program revenue bonds, according to an official statement.
The deal includes $66.8 million of series 2012A taxable bonds and $308.2 million of series 2012B AMT bonds.
The bonds (/AA-/A-1+/AA/F1+) are due Aug. 1, 2047 and bear interest at the weekly rate.
RBC Capital Markets LLC is the senior manager.
Proceeds will be used to finance or refinance student loans originated under the office's supplemental student loan program, as well as to refund existing debt.
| Issuer: | Minnesota Office of Higher Education
|
| Issue: | Series 2012 adjustable-rate supplemental student loan program revenue bonds
|
| Amount: | $375 million
|
| Type: | Negotiated
|
| Underwriter: | RBC Capital Markets LLC
|
| Ratings: | Standard & Poor's: AA-/A-1+
|
| Fitch: AA/F1+
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 26
|
|
|
| $66.8 million series 2012A taxable bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 1, 2047 | Term | Weekly | 100
|
|
|
| $308.2 million series 2012B AMT bonds
|
| Maturity | Type | Coupon | Price
|
| Aug. 1, 2047 | Term | Weekly | 100
|
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