By Sheri Kasprzak
New York, April 10 - The Massachusetts Development Finance Agency priced $111,485,000 of series 2013X revenue bonds for Boston University, according to a pricing sheet.
The bonds (A1/A/) were sold through J.P. Morgan Securities LLC and Barclays.
The bonds are due in 2048, and have a split maturity with a 4% coupon priced at 99.061 and a 5% coupon priced at 110.969.
Proceeds will be used to finance and refinance capital projects, including renovations to the law school and construction of a new student residence hall for graduate medical students.
| Issuer: | Massachusetts Development Finance Agency/Boston University
|
| Issue: | Series 2013X revenue bonds
|
| Amount: | $111,485,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Barclays (lead)
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
| Pricing date: | April 9
|
| Settlement date: | April 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $25 million | 2048 | Term | 4% | 99.061
|
| $86,485,000 | 2048 | Term | 5% | 110.969
|
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