Published on 9/18/2013 in the Prospect News Municipals Daily.
New Issue: Mississippi State University Educational prices $60.47 million of debt
By Sheri Kasprzak
New York, Sept. 18 - The Mississippi State University Educational Building Corp. sold $60.47 million of series 2013 revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC.
The bonds are due 2014 to 2033 with a term bond due in 2038. The serial coupons range from 2% to 5% coupons with 0.29% to 4.5% yields. The 2038 bonds have a 5.25% coupon priced at 104.835 to yield 4.63%.
Proceeds will be used to finance the completion of the expansion of the Davis Wade Stadium at the university, as well as to refund outstanding commercial paper.
| Issuer: | Mississippi State University Educational Building Corp.
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $60.47 million
|
| Type: | Negotiated
|
| Underwriters: | Raymond James/Morgan Keegan and Morgan Stanley & Co. LLC (lead)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Sept. 18
|
| Settlement date: | Oct. 11
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $490,000 | 2014 | Serial | 3% | 102.178 | 0.29%
|
| $505,000 | 2015 | Serial | 3% | 104.339 | 0.58%
|
| $525,000 | 2016 | Serial | 3% | 105.661 | 0.95%
|
| $540,000 | 2017 | Serial | 3% | 106.214 | 1.32%
|
| $555,000 | 2018 | Serial | 3.25% | 106.787 | 1.77%
|
| $570,000 | 2019 | Serial | 2% | 99.238 | 2.14%
|
| $585,000 | 2020 | Serial | 3.125% | 104.269 | 2.44%
|
| $605,000 | 2021 | Serial | 4% | 108.504 | 2.78%
|
| $630,000 | 2022 | Serial | 4% | 107.204 | 3.06%
|
| $655,000 | 2023 | Serial | 4% | 106.337 | 3.24%
|
| $685,000 | 2024 | Serial | 5% | 112.797 | 3.45%
|
| $720,000 | 2025 | Serial | 5% | 111.038 | 3.65%
|
| $760,000 | 2026 | Serial | 5% | 109.484 | 3.83%
|
| $2.05 million | 2027 | Serial | 5% | 108.377 | 3.96%
|
| $2.14 million | 2028 | Serial | 4% | 99.112 | 4.08%
|
| $2.23 million | 2029 | Serial | 4% | 98.155 | 4.16%
|
| $2.33 million | 2030 | Serial | 5% | 105.628 | 4.29%
|
| $2.45 million | 2031 | Serial | 5% | 104.974 | 4.37%
|
| $2,575,000 | 2032 | Serial | 5% | 104.406 | 4.44%
|
| $2.7 million | 2033 | Serial | 4.375% | 98.367 | 4.50%
|
| $15.78 million | 2038 | Term | 5.25% | 104.835 | 4.63%
|
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