By Sheri Kasprzak
New York, Nov. 9 - The Massachusetts Development Finance Authority priced $740.97 million of series 2010B revenue bonds for Harvard University, according to a pricing sheet.
The sale included $498.9 million of series 2010B-1 bonds, $181.265 million of series 2010B-2 bonds and $60.805 million of series 2010B-3 bonds.
The bonds (Aaa/AAA/) were sold through Morgan Stanley & Co. Inc. with Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Barclays Capital Inc. as the co-managers.
The 2010B-1 bonds are due 2028 to 2030 with term bonds due 2020 and 2040. The coupons range from 5% to 5.25%. The 2010B-2 bonds are due 2034 with a 5.25% coupon. The 2010B-3 bonds are due 2020 to 2024 with 5% coupons across the board. The full pricing details were not immediately available Tuesday evening.
Proceeds will be used to refund the university's series FF, series BB and series L bonds.
| Issuer: | Massachusetts Development Finance Authority/Harvard University
|
| Issue: | Series 2010B revenue bonds
|
| Amount: | $740.97 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. (lead), Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Barclays Capital Inc.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 17
|
|
|
| $498.9 million series 2010B-1
|
| Maturity | Type | Coupon
|
| 2020 | Term | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5.25%
|
| 2030 | Serial | 5%
|
| 2040 | Term | 5%
|
|
|
| $181.265 million series 2010B-2
|
| Maturity | Type | Coupon
|
| 2034 | Term | 5.25%
|
|
|
| $60.805 million series 2010B-3
|
| Maturity | Type | Coupon
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 5%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
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