Published on 5/6/2014 in the Prospect News Municipals Daily.
New Issue: Miami University, Ohio, sells $135.04 million general receipts bonds
By Sheri Kasprzak
New York, May 6 - The Miami University of Ohio sold $135,035,000 of series 2014 general receipts revenue bonds, according to a pricing sheet.
The bonds (//AA) were sold through senior manager Barclays.
The bonds are due 2015 to 2034 with term bonds due in 2036 and 2039. The serial coupons range from 3% to 5%. The 2036 bonds have a 4% coupon and the 2039 bonds have a 4% coupon, both priced at par.
Proceeds will be used to fund infrastructure improvements and residence hall and dining facility renovations.
| Issuer: | Miami University
|
| Issue: | Series 2014 general receipts revenue bonds
|
| Amount: | $135,035,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), Wells Fargo Securities LLC, Fifth Third Securities Inc. and Edward D. Jones & Co. LP (co-managers)
|
| Rating: | Fitch: AA
|
| Pricing date: | May 6
|
| Settlement date: | June 5
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3,065,000 | 2015 | Serial | 3% | 103.462
|
| $3,175,000 | 2016 | Serial | 4% | 107.922
|
| $3,305,000 | 2017 | Serial | 4% | 110.311
|
| $4.19 million | 2018 | Serial | 5% | 116.017
|
| $4,405,000 | 2019 | Serial | 5% | 117.623
|
| $4.63 million | 2020 | Serial | 5% | 118.801
|
| $4.87 million | 2021 | Serial | 5% | 119.526
|
| $5.12 million | 2022 | Serial | 5% | 119.906
|
| $5.38 million | 2023 | Serial | 5% | 120.049
|
| $5,655,000 | 2024 | Serial | 5% | 120.749
|
| $5,945,000 | 2025 | Serial | 5% | 119.266
|
| $6.25 million | 2026 | Serial | 5% | 117.998
|
| $6.57 million | 2027 | Serial | 5% | 117.322
|
| $4,585,000 | 2028 | Serial | 5% | 116.937
|
| $400,000 | 2029 | Serial | 3.5% | 99.411
|
| $4.42 million | 2029 | Serial | 5% | 116.078
|
| $5,065,000 | 2030 | Serial | 5% | 115.321
|
| $5.32 million | 2031 | Serial | 5% | 114.57
|
| $435,000 | 2032 | Serial | 3.75% | 99.342
|
| $5,155,000 | 2032 | Serial | 5% | 113.824
|
| $5,875,000 | 2033 | Serial | 5% | 113.177
|
| $6,175,000 | 2034 | Serial | 5% | 112.625
|
| $10.04 million | 2036 | Term | 4% | 100
|
| $25,005,000 | 2039 | Term | 4% | 100
|
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