Published on 5/25/2012 in the Prospect News Municipals Daily.
New Issue: Belmont University, Tenn., sells $55.97 million revenue bonds
By Sheri Kasprzak
New York, May 25 - The Health and Educational Facilities Board of the Metropolitan Government of Nashville and Davidson County, Tenn. sold $55,965,000 of series 2012 revenue bonds for Belmont University, according to a pricing sheet.
The bonds (Baa1/BBB+/) were sold through Stephens Inc. and SunTrust Robinson Humphrey.
The bonds are due 2013 to 2031 with 2% to 5% coupons.
Proceeds will be used to construct Maple Hall, a 200-bed campus residence hall and construct, improve and equip Bruins Hall, a 494-bed residence hall with apartment-style accommodations, as well as to construct an underground parking garage.
| Issuer: | Health and Educational Facilities Board of the Metropolitan Government of Nashville and Davidson County, Tenn./Belmont University
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $55,965,000
|
| Type: | Negotiated
|
| Underwriters: | Stephens Inc. and SunTrust Robinson Humphrey (lead)
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Pricing date: | May 25
|
| Settlement date: | May 30
|
|
|
| Amount | Maturity | Type | Coupon | Price/Yield
|
| $1,465,000 | 2013 | Serial | 2% | 101.405
|
| $1.6 million | 2014 | Serial | 2% | 101.541
|
| $1.8 million | 2015 | Serial | 2% | 100.825
|
| $1.9 million | 2016 | Serial | 3% | 103.564
|
| $2.2 million | 2017 | Serial | 3% | 102.774
|
| $2.4 million | 2018 | Serial | 3% | 101.166
|
| $2.6 million | 2019 | Serial | 4% | 106.605
|
| $2.7 million | 2020 | Serial | 4% | 105.483
|
| $2.8 million | 2021 | Serial | 4% | 104.388
|
| $2.9 million | 2022 | Serial | 5% | 3.6%
|
| $3 million | 2023 | Serial | 5% | 3.7%
|
| $3.2 million | 2024 | Serial | 5% | 3.85%
|
| $3.4 million | 2025 | Serial | 5% | 3.95%
|
| $3.5 million | 2026 | Serial | 5% | 4%
|
| $3.7 million | 2027 | Serial | 5% | 4.05%
|
| $3.9 million | 2028 | Serial | 5% | 4.1%
|
| $3.61 million | 2029 | Serial | 5% | 4.4%
|
| $490,000 | 2029 | Serial | 4.3% | 98.788
|
| $4.2 million | 2030 | Serial | 5% | 4.2%
|
| $100,000 | 2030 | Serial | 4.35% | 98.748
|
| $3,085,000 | 2031 | Serial | 4.4% | 98.71
|
| $1,415,000 | 2031 | Serial | 5% | 4.3%
|
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