By Sheri Kasprzak
New York, July 14 - The Indiana University priced $96 million of series U student fee bonds, said a term sheet.
The bonds (Aaa/AA+/) were sold through Barclays Capital Inc. with City Securities Corp. and Cabrera Capital Markets LLC as the co-managers.
The bonds are due 2012 to 2031 with 2% to 5% coupons.
Proceeds will be used to construct, acquire and equip a neurosciences building at the university's Indianapolis campus, purchase land at the South Bend campus and refund existing debt.
| Issuer: | Indiana University
|
| Issue: | Series U student fee bonds
|
| Amount: | $96 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. (lead), City Securities Corp. and Cabrera Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Pricing date: | July 14
|
| Settlement date: | July 26
|
|
|
| Maturity | Type | Coupon
|
| 2012 | Serial | 2%
|
| 2013 | Serial | 4%
|
| 2014 | Serial | 5%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 5%
|
| 2017 | Serial | 5%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
| 2020 | Serial | 5%
|
| 2021 | Serial | 5%
|
| 2022 | Serial | 3.2%
|
| 2023 | Serial | 5%
|
| 2024 | Serial | 5%
|
| 2025 | Serial | 5%
|
| 2026 | Serial | 5%
|
| 2027 | Serial | 5%
|
| 2028 | Serial | 5%
|
| 2029 | Serial | 5%
|
| 2030 | Serial | 5%
|
| 2031 | Serial | 5%
|
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