New Issue: Appalachian State University, N.C., prices $60.15 million revenue bonds

By Sheri Kasprzak

New York, May 17 - The Appalachian State University priced $60.145 million of series 2011 general revenue bonds through the Board of Governors of the University of North Carolina, said a pricing sheet.

The bonds (Aa3) were sold competitively and are due 2012 to 2029 and 2031 to 2034 with a 2036 term bond. The serial coupons range from 2% to 5%. The 2036 bonds have a 4.5% coupon priced at 98.802.

Proceeds will be used to construct and equip capital improvements on the Appalachian State campus, including the demolition of a residence hall, the construction and equipment of a new honors residence hall, the construction and equipment of a new student union and the installation of a new steam and chilled water tunnel.

Issuer:	Appalachian State University/Board of Governors of the University of North Carolina
Issue:	Series 2011 general revenue bonds
Amount:	$60.145 million
Type:	Competitive
Rating:	Moody's: Aa3
Pricing date:	May 17
Settlement date:	June 2
Maturity	Type	Coupon	Price
2012	Serial	2%	101.785
2013	Serial	2%	102.53
2014	Serial	2%	102.669
2015	Serial	4%	110.753
2016	Serial	4%	112.105
2017	Serial	5%	117.752
2018	Serial	5%	118.115
2019	Serial	4%	109.793
2020	Serial	5%	117.861
2021	Serial	5%	117.843
2022	Serial	5%	116.782
2023	Serial	5%	116.22
2024	Serial	5%	115.403
2025	Serial	4%	101.415
2026	Serial	4%	100
2027	Serial	4.75%	108.423
2028	Serial	4.75%	107.485
2029	Serial	4.25%	99.616
2031	Serial	4.25%	98.654
2032	Serial	4.25%	98.614
2033	Serial	4.25%	97.458
2034	Serial	4.5%	100
2036	Term	4.5%	98.802

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