Published on 2/12/2014 in the Prospect News Municipals Daily.
New Issue: Nevada System of Higher Ed details $50.93 million of universities bonds
By Sheri Kasprzak
New York, Feb. 12 - The Nevada System of Higher Education released additional information on its $50.93 million sale of series 2014A universities revenue bonds, according to a pricing sheet.
The bonds (/AA-/) were sold competitively. BofA Merrill Lynch won the bid at a 4.023348% true interest cost.
The bonds are due 2015 to 2039 with term bonds due in 2041 and 2043. The serial coupons range from 4% to 5%. The 2041 bonds have a 4.375% coupon priced at 98.04 and the 2043 bonds have a 4.5% coupon priced at 99.509.
Proceeds will be used to acquire and construct capital facilities at the University of Nevada in Reno and Las Vegas.
| Issuer: | Nevada System of Higher Education
|
| Issue: | Series 2014A universities revenue bonds
|
| Amount: | $50.93 million
|
| Type: | Competitive
|
| Underwriter: | BofA Merrill Lynch (winner)
|
| True interest cost: | 4.023348%
|
| Rating: | Standard & Poor's: AA-
|
| Pricing date: | Feb. 11
|
| Settlement date: | March 11
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $935,000 | 2015 | Serial | 4% | 104.749
|
| $1,425,000 | 2016 | Serial | 4% | 108.06
|
| $1,475,000 | 2017 | Serial | 5% | 113.778
|
| $1.51 million | 2018 | Serial | 5% | 116.08
|
| $1.57 million | 2019 | Serial | 5% | 118.287
|
| $1.63 million | 2020 | Serial | 5% | 118.663
|
| $1.69 million | 2021 | Serial | 5% | 118.797
|
| $1.75 million | 2022 | Serial | 5% | 118.23
|
| $1.8 million | 2023 | Serial | 5% | 118.088
|
| $1,875,000 | 2024 | Serial | 5% | 118.196
|
| $1,155,000 | 2025 | Serial | 5% | 116.551
|
| $1,215,000 | 2026 | Serial | 5% | 115.216
|
| $1.27 million | 2027 | Serial | 5% | 113.434
|
| $1,335,000 | 2028 | Serial | 5% | 112.51
|
| $1,405,000 | 2029 | Serial | 5% | 111.594
|
| $1,475,000 | 2030 | Serial | 5% | 110.868
|
| $1.55 million | 2031 | Serial | 5% | 110.058
|
| $1,625,000 | 2032 | Serial | 5% | 109.344
|
| $1,705,000 | 2033 | Serial | 5% | 108.636
|
| $1.79 million | 2034 | Serial | 5% | 108.284
|
| $1.88 million | 2035 | Serial | 5% | 107.846
|
| $1,975,000 | 2036 | Serial | 5% | 107.497
|
| $2,075,000 | 2037 | Serial | 5% | 107.149
|
| $2.18 million | 2038 | Serial | 5% | 106.889
|
| $2,285,000 | 2039 | Serial | 4.25% | 97.123
|
| $4,925,000 | 2041 | Term | 4.375% | 98.04
|
| $5,425,000 | 2043 | Term | 4.5% | 99.509
|
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