By Sheri Kasprzak
New York, April 11 - The California Educational Facilities Authority priced $77.76 million of series U-2 revenue bonds for Stanford University, according to a term sheet.
The bonds (Aaa/AAA/AAA) were sold through Goldman, Sachs & Co. and Morgan Stanley & Co. LLC. The co-managers were Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Prager & Co. LLC.
The bonds are due Oct. 1, 2032 and have a 5% coupon priced at 127.564.
Proceeds will be used to refinance a portion of the authority's series U project, which was financed by the authority's series Q bonds for the university.
| Issuer: | California Educational Facilities Authority/Stanford University
|
| Issue: | Series U-2 revenue bonds
|
| Amount: | $77.76 million
|
| Maturity: | Oct. 1, 2032
|
| Coupon: | 5%
|
| Price: | 127.564
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Morgan Stanley & Co. LLC (lead), Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Prager & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | April 9
|
| Settlement date: | April 17
|
© 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.
