Published on 12/6/2012 in the Prospect News Municipals Daily.
New Issue: Massachusetts State College Building sells $153.84 million revenue bonds
By Sheri Kasprzak
New York, Dec. 6 - The Massachusetts State College Building Authority priced $153.84 million of series 2012C project revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold competitively with Wells Fargo Securities LLC winning the bid with a 2.69% true interest cost, Edward Adelman, executive director of the authority, said on Thursday.
The bonds are due 2014 to 2036 with term bonds due in 2038 and 2042. The serial coupons range from 2% to 5%. The 2038 bonds have a 3% coupon priced at 97.991 and the 2042 bonds have a 3% coupon priced at 97.
Proceeds will be used to make renovations, improvements and expansions to several colleges within the commonwealth.
| Issuer: | Massachusetts State College Building Authority
|
| Issue: | Series 2012C project revenue bonds
|
| Amount: | $153.84 million
|
| Type: | Competitive
|
| Underwriter: | Wells Fargo Securities LLC
|
| True Interest Cost: | 2.69%
|
| Rating: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 20
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,595,000 | 2014 | Serial | 5% | 106.306
|
| $4.27 million | 2015 | Serial | 5% | 110.611
|
| $4.48 million | 2016 | Serial | 4% | 111.34
|
| $4,665,000 | 2017 | Serial | 4% | 114.065
|
| $4.86 million | 2018 | Serial | 4% | 116.367
|
| $5.04 million | 2019 | Serial | 5% | 124.741
|
| $5,285,000 | 2020 | Serial | 4% | 119.988
|
| $5,495,000 | 2021 | Serial | 5% | 128.592
|
| $5,765,000 | 2022 | Serial | 4% | 120.888
|
| $6,015,000 | 2023 | Serial | 3% | 110.206
|
| $6.18 million | 2024 | Serial | 3% | 108.41
|
| $6.37 million | 2025 | Serial | 2% | 97.844
|
| $6.5 million | 2026 | Serial | 2.25% | 98.75
|
| $6,645,000 | 2027 | Serial | 3% | 104.064
|
| $6.85 million | 2028 | Serial | 3% | 103.556
|
| $7,045,000 | 2029 | Serial | 3% | 103.051
|
| $7,265,000 | 2030 | Serial | 3% | 102.549
|
| $7.49 million | 2031 | Serial | 3% | 102.049
|
| $7.7 million | 2032 | Serial | 3% | 101.552
|
| $3,865,000 | 2033 | Serial | 3% | 101.058
|
| $3.98 million | 2034 | Serial | 3% | 100.485
|
| $4.1 million | 2035 | Serial | 3% | 99.835
|
| $4,225,000 | 2036 | Serial | 3% | 98.672
|
| $8.84 million | 2038 | Term | 3% | 97.991
|
| $19,315,000 | 2042 | Term | 3% | 97
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
