By Sheri Kasprzak
New York, May 18 - The Houston Higher Education Finance Corp. sold $97.225 million in series 2010A higher education revenue bonds for Rice University, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through J.P. Morgan Securities Inc. and Ramirez & Co. Inc.
The bonds are due 2035 and 2040. Both term bonds have a 5% coupon, but the yields were not immediately available Tuesday evening.
Proceeds from the sale will be used to construct a BioScience Research Collaborative, to construct additional student housing and to construct academic buildings at the university.
The corporation provides access to the capital markets for nonprofit and other organizations. The university is based in Houston.
| Issuer: | Houston Higher Education Finance Corp./Rice University
|
| Issue: | Series 2010A higher education revenue bonds
|
| Amount: | $97.225 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities Inc. and Ramirez & Co. Inc. (lead)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 18
|
| Settlement date: | June 2
|
|
|
| Maturity | Type | Coupon
|
| 2035 | Term | 5%
|
| 2040 | Term | 5%
|
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