Published on 8/22/2014 in the Prospect News Municipals Daily.
New Issue: University of Colorado sells $308.93 million university revenue bonds
By Sheri Kasprzak
New York, Aug. 22 – The University of Colorado sold $308,925,000 of series 2014 tax-exempt university enterprise revenue bonds, according to a pricing sheet.
The deal included $208,485,000 of series 2014A bonds and $100.44 million of series 2014B-1 refunding bonds.
The 2014A bonds are due 2017 to 2039 with a term bond due in 2046. The serial bonds have 5% coupons with 0.55% to 3.33% yields. The 2046 bonds have a 5% coupon priced at 112.75 to yield 3.44%.
The 2014B-2 bonds are due 2015 to 2034 with coupons from 1% to 5% and with yields from 0.18% to 3.49%.
The bonds (Aa2//AA+) were sold through Stifel, Nicolaus & Co. Inc.
Proceeds will be used to finance capital improvement projects.
| Issuer: | University of Colorado
|
| Issue: | Series 2014 tax-exempt university enterprise revenue bonds
|
| Amount: | $308,925,000
|
| Type: | Negotiated
|
| Underwriters: | Stifel, Nicolaus & Co. Inc. (lead), RBC Capital Markets LLC, Loop Capital Markets LLC and Drexel Hamilton LLC (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA+
|
| Pricing date: | Aug. 21
|
| Settlement date: | Sept. 25
|
|
|
| $208,485,000 series 2014A bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $5,155,000 | 2017 | Serial | 5% | 111.836 | 0.55%
|
| $5.41 million | 2018 | Serial | 5% | 115.055 | 0.84%
|
| $5.69 million | 2019 | Serial | 5% | 117.603 | 1.13%
|
| $5.97 million | 2020 | Serial | 5% | 119.357 | 1.44%
|
| $6.27 million | 2021 | Serial | 5% | 120.552 | 1.73%
|
| $6.58 million | 2022 | Serial | 5% | 121.344 | 1.99%
|
| $6,905,000 | 2023 | Serial | 5% | 122.107 | 2.19%
|
| $7,255,000 | 2024 | Serial | 5% | 123.12 | 2.32%
|
| $7.62 million | 2025 | Serial | 5% | 121.86 | 2.45%
|
| $8 million | 2026 | Serial | 5% | 120.425 | 2.60%
|
| $8,395,000 | 2027 | Serial | 5% | 119.667 | 2.68%
|
| $8,815,000 | 2028 | Serial | 5% | 118.916 | 2.76%
|
| $5,615,000 | 2029 | Serial | 5% | 118.263 | 2.83%
|
| $5.89 million | 2030 | Serial | 5% | 117.614 | 2.90%
|
| $6.19 million | 2031 | Serial | 5% | 116.878 | 2.98%
|
| $6,495,000 | 2032 | Serial | 5% | 116.33 | 3.04%
|
| $6.82 million | 2033 | Serial | 5% | 115.966 | 3.08%
|
| $7,165,000 | 2034 | Serial | 5% | 115.512 | 3.13%
|
| $7,515,000 | 2035 | Serial | 5% | 115.061 | 3.18%
|
| $7,895,000 | 2036 | Serial | 5% | 114.613 | 3.23%
|
| $8,295,000 | 2037 | Serial | 5% | 114.255 | 3.27%
|
| $8.7 million | 2038 | Serial | 5% | 113.899 | 3.31%
|
| $9.14 million | 2039 | Serial | 5% | 113.721 | 3.33%
|
| $41.7 million | 2046 | Term | 5% | 112.75 | 3.44%
|
|
|
| $100.44 million series 2014B-1 refunding bonds
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.71 million | 2015 | Serial | 1% | 100.559 | 0.18%
|
| $310,000 | 2016 | Serial | 2% | 102.8 | 0.33%
|
| $315,000 | 2017 | Serial | 2% | 103.856 | 0.55%
|
| $315,000 | 2018 | Serial | 2% | 104.198 | 0.84%
|
| $2.61 million | 2019 | Serial | 2% | 103.957 | 1.13%
|
| $260,000 | 2020 | Serial | 2% | 103.044 | 1.44%
|
| $5,985,000 | 2021 | Serial | 3% | 107.981 | 1.73%
|
| $6,165,000 | 2022 | Serial | 5% | 121.344 | 1.99%
|
| $6.47 million | 2023 | Serial | 5% | 122.107 | 2.19%
|
| $9.71 million | 2024 | Serial | 5% | 123.12 | 2.32%
|
| $10.19 million | 2025 | Serial | 5% | 121.86 | 2.45%
|
| $16.72 million | 2026 | Serial | 4% | 109.491 | 2.87%
|
| $4.37 million | 2027 | Serial | 4% | 108.521 | 2.98%
|
| $12.69 million | 2028 | Serial | 4% | 107.388 | 3.11%
|
| $4.72 million | 2029 | Serial | 4% | 106.698 | 3.19%
|
| $4.92 million | 2030 | Serial | 4% | 106.098 | 3.26%
|
| $5.12 million | 2031 | Serial | 4% | 105.503 | 3.33%
|
| $5.32 million | 2032 | Serial | 4% | 104.995 | 3.39%
|
| $1,245,000 | 2033 | Serial | 4% | 104.574 | 3.44%
|
| $1,295,000 | 2034 | Serial | 4% | 104.156 | 3.49%
|
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