By Sheri Kasprzak
New York, Jan. 30 - The Massachusetts Health and Educational Facilities Authority priced $63.825 million in series 2009 revenue and revenue refunding bonds (A2) for Northeastern University Friday, according to an official statement.
The sale included $38.28 million in series 2009Y-1 revenue bonds and $25.545 million in series 2009Y-2 refunding revenue bonds.
The 2009Y-1 bonds are due 2009 to 2019 with a term bond due 2029. The serials have coupons from 3% to 5% and yields from 2.15% to 4.8%. The 2029 bond has a 5.625% coupon to yield 5.85%.
The 2009Y-2 bonds are due 2009 to 2019 with a term bond due 2024. The serials have coupons from 3% to 5% and yields from 2% to 4.8%. The 2024 bond has a 5.5% coupon to yield 5.625%.
Barclays Capital Inc. was the underwriter for the negotiated deal.
Proceeds will be used to reimburse the university for certain construction costs.
| Issuer: | Massachusetts Health and Educational Facilities Authority/Northeastern University
|
| Issue: | Series 2009Y revenue and refunding revenue bonds
|
| Amount: | $63.825 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc.
|
| Rating: | Moody's: A2
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 5
|
|
|
| Series 2009Y-1 bonds
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 2.15%
|
| 2010 | Serial | 5% | 2.875%
|
| 2011 | Serial | 5% | 3.05%
|
| 2012 | Serial | 5% | 3.25%
|
| 2013 | Serial | 5% | 3.42%
|
| 2014 | Serial | 5% | 3.65%
|
| 2015 | Serial | 5% | 3.875%
|
| 2016 | Serial | 5% | 4.125%
|
| 2017 | Serial | 5% | 4.35%
|
| 2018 | Serial | 5% | 4.55%
|
| 2019 | Serial | 5% | 4.80%
|
| 2029 | Term | 5.625% | 5.85%
|
|
|
| Series 2009Y-2 bonds
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3% | 2.00%
|
| 2010 | Serial | 5% | 2.875%
|
| 2011 | Serial | 5% | 3.05%
|
| 2012 | Serial | 5% | 3.25%
|
| 2013 | Serial | 5% | 3.42%
|
| 2014 | Serial | 5% | 3.65%
|
| 2015 | Serial | 5% | 3.875%
|
| 2016 | Serial | 5% | 4.125%
|
| 2017 | Serial | 5% | 4.35%
|
| 2018 | Serial | 5% | 4.55%
|
| 2019 | Serial | 5% | 4.80%
|
| 2024 | Term | 5.5% | 5.625%
|
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