By Sheri Kasprzak
New York, Jan. 9 - The Massachusetts Development Finance Agency priced $150 million of series 2014A revenue bonds for Northeastern University, said a pricing sheet.
The bonds were sold through Barclays and Morgan Stanley & Co. LLC.
The bonds are due 2032 to 2034 with term bonds due in 2037, 2039 and 2044. The serial coupons range from 4.375% to 5%. The 2037 bonds have a 4.5% coupon priced at 97.746 and a 5.25% coupon priced at 105.366. The 2039 bonds have a 5% coupon priced at 101.902, and the 2044 bonds have a 5% coupon priced at 101.022.
Proceeds will be used to construct, design and equip a new interdisciplinary science and engineering building as well as to renovate existing administrative and office space.
| Issuer: | Massachusetts Development Finance Agency/Northeastern University
|
| Issue: | Series 2014A revenue bonds
|
| Amount: | $150 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays and Morgan Stanley & Co. LLC (lead)
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.98 million | 2032 | Serial | 5% | 104.847
|
| $4,135,000 | 2033 | Serial | 4.375% | 98.003
|
| $5 million | 2033 | Serial | 5% | 104.019
|
| $9,565,000 | 2034 | Serial | 5% | 103.362
|
| $6.5 million | 2037 | Term | 4.5% | 97.746
|
| $13.5 million | 2037 | Term | 5.25% | 105.366
|
| $35.49 million | 2039 | Term | 5% | 101.902
|
| $70.83 million | 2044 | Term | 5% | 101.022
|
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