Published on 1/15/2014 in the Prospect News Municipals Daily.
New Issue: Northeastern University, Mass., offers up $100 million of taxable bonds
By Sheri Kasprzak
New York, Jan. 15 - Northeastern University of Massachusetts sold $100 million of series 2014B taxable bonds, according to a pricing sheet.
The bonds (A2) were sold through Barclays and Morgan Stanley & Co. LLC.
The bonds are due 2016 to 2026 with a term bond due in 2032. The serial coupons range from 0.975% to 4.611% all priced at par. The 2032 bonds have a 5.285% coupon priced at par.
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: | Northeastern University
|
| Issue: | Series 2014B taxable bonds
|
| Amount: | $100 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays and Morgan Stanley & Co. LLC
|
| Rating: | Moody's: A2
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.7 million | 2016 | Serial | 0.975% | 100
|
| $4,745,000 | 2017 | Serial | 1.578% | 100
|
| $4,825,000 | 2018 | Serial | 2.272% | 100
|
| $4,935,000 | 2019 | Serial | 2.722% | 100
|
| $5.07 million | 2020 | Serial | 3.249% | 100
|
| $5,235,000 | 2021 | Serial | 3.599% | 100
|
| $5,425,000 | 2022 | Serial | 3.941% | 100
|
| $5.64 million | 2023 | Serial | 4.181% | 100
|
| $5.88 million | 2024 | Serial | 4.311% | 100
|
| $6,135,000 | 2025 | Serial | 4.461% | 100
|
| $6.41 million | 2026 | Serial | 4.611% | 100
|
| $41 million | 2032 | Term | 5.285% | 100
|
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