Published on 10/5/2012 in the Prospect News Municipals Daily.
New Issue: Amherst College, Mass., prices $100 million of taxable bonds
By Sheri Kasprzak
New York, Oct. 5 - Amherst College of Massachusetts sold $100 million of series 2012A taxable bonds, according to a pricing sheet.
The bonds (Aaa/AA+/) were sold through Bank of America Merrill Lynch.
The bonds are due 2013 to 2022 with term bonds due in 2027, 2032 and 2042. The serial coupons range from 0.438% to 2.416%, all priced at par. The 2027 bonds have a 3.016% coupon priced at par, and the 2032 bonds have a 3.694% coupon priced at par. The 2042 bonds have a 3.794% coupon priced at par.
Proceeds will be used to finance capital projects for the college.
| Issuer: | Amherst College
|
| Issue: | Series 2012A taxable bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,345,000 | 2013 | Serial | 0.438% | 100
|
| $2,355,000 | 2014 | Serial | 0.538% | 100
|
| $2.37 million | 2015 | Serial | 0.659% | 100
|
| $2,385,000 | 2016 | Serial | 0.965% | 100
|
| $2,405,000 | 2017 | Serial | 1.115% | 100
|
| $2,435,000 | 2018 | Serial | 1.435% | 100
|
| $2.47 million | 2019 | Serial | 1.735% | 100
|
| $2.51 million | 2020 | Serial | 2.166% | 100
|
| $2,565,000 | 2021 | Serial | 2.316% | 100
|
| $2,625,000 | 2022 | Serial | 2.416% | 100
|
| $14.28 million | 2027 | Term | 3.016% | 100
|
| $16.79 million | 2032 | Term | 3.694% | 100
|
| $44,465,000 | 2042 | Term | 3.794% | 100
|
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