By Sheri Kasprzak
New York, June 29 - The North Carolina Capital Facilities Finance Agency priced $61.17 million of series 2012 educational facilities revenue bonds for High Point University, said a pricing sheet.
The bonds (/BBB+/) were sold through BB&T Capital Markets and Wells Fargo Securities LLC.
The bonds are due 2013 to 2029 with term bonds due in 2032 and 2034. The serial coupons range from 2% to 5%. The 2032 bonds have a 5% coupon priced at 103.964 and the 2034 bonds have a 4.375% coupon priced at 97.725.
Proceeds will be used to finance the construction, acquisition and equipment of a new three-story residence hall, to refund the university's series 2006, 2007 and 2008 revenue bonds and to repay a line of credit received in 2009.
| Issuer: | North Carolina Capital Facilities Finance Agency/High Point University
|
| Issue: | Series 2012 educational facilities revenue bonds
|
| Amount: | $61.17 million
|
| Type: | Negotiated
|
| Underwriters: | BB&T Capital Markets and Wells Fargo Securities LLC (lead)
|
| Ratings: | Standard & Poor's: BBB+
|
| Pricing date: | June 28
|
| Settlement date: | July 11
|
|
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 2% | 100.695
|
| 2014 | Serial | 2% | 101.011
|
| 2015 | Serial | 2% | 100.817
|
| 2016 | Serial | 4% | 107.672
|
| 2017 | Serial | 4% | 108.305
|
| 2018 | Serial | 5% | 113.543
|
| 2019 | Serial | 5% | 113.674
|
| 2020 | Serial | 3% | 99.514
|
| 2021 | Serial | 3.125% | 98.518
|
| 2021 | Serial | 5% | 112.731
|
| 2022 | Serial | 3.375% | 98.966
|
| 2023 | Serial | 3.625% | 98.456
|
| 2024 | Serial | 4% | 99.529
|
| 2025 | Serial | 5% | 107.354
|
| 2026 | Serial | 5% | 106.666
|
| 2027 | Serial | 5% | 106.058
|
| 2028 | Serial | 5% | 105.455
|
| 2029 | Serial | 4.25% | 98.811
|
| 2032 | Term | 5% | 103.964
|
| 2034 | Term | 4.375% | 97.725
|
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