Published on 10/24/2012 in the Prospect News Municipals Daily.
New Issue: Virginia College Building prices $60 million of bonds for University of Richmond
By Sheri Kasprzak
New York, Oct. 24 - The Virginia College Building Authority sold $60 million of series 2012 educational facilities revenue bonds for the University of Richmond, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through Goldman, Sachs & Co. and Raymond James/Morgan Keegan.
The bonds are due 2027 to 2032 with a term bond due in 2042. The serial coupons range from 3% to 4%. The 2042 bonds have a 4% coupon priced at 105.27.
Proceeds will be used to construct and acquire residence halls and a sports field, as well as to renovate student housing, a library and academic buildings.
| Issuer: | Virginia College Building Authority/University of Richmond
|
| Issue: | Series 2012 educational facilities revenue bonds
|
| Amount: | $60 million
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. and Raymond James/Morgan Keegan
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | Oct. 23
|
| Settlement date: | Nov. 6
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,715,000 | 2027 | Serial | 4% | 112.983
|
| $3,865,000 | 2028 | Serial | 4% | 112.212
|
| $4.02 million | 2029 | Serial | 3% | 99.613
|
| $4.14 million | 2030 | Serial | 3% | 98.797
|
| $4.26 million | 2031 | Serial | 3.125% | 99.651
|
| $20 million | 2032 | Serial | 3.125% | 98.78
|
| $20 million | 2042 | Term | 4% | 105.27
|
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