By Sheri Kasprzak
New York, Sept. 25 – The Massachusetts Institute of Technology priced $522.41 million of series 2014D taxable bonds, according to a pricing sheet.
The deal included $152.41 million of series 2014D-1 bond and $370 million of series 2014D-2 bonds.
The 2014D-1 bonds are due July 1, 2019 and July 1, 2026. The 2019 bonds have a 2.051% coupon, and the 2026 bonds have a 3.308% coupon both priced at par.
The 2014D-2 bonds are due July 1, 2038 and have a 3.959% coupon priced at par.
The bonds (Aaa/AAA/) were sold through J.P. Morgan Securities LLC, Barclays and Morgan Stanley & Co. LLC.
Proceeds will be used to advance refund the institute’s series 2008O taxable bonds.
| Issuer: | Massachusetts Institute of Technology
|
| Issue: | Series 2014D taxable bonds
|
| Amount: | $522.41 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC, Barclays and Morgan Stanley & Co. LLC (lead)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 29
|
|
|
| $152.41 million series 2014D-1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $66.41 million | July 1, 2019 | Term | 2.051% | 100
|
| $86 million | July 1, 2026 | Term | 3.308% | 100
|
|
|
| $370 million series 2014D-2 bonds
|
| Maturity | Type | Coupon | Price
|
| July 1, 2038 | Term | 3.959% | 100
|
|
|
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