New Issue: Oakland University, Mich., sells $58.74 million general revenue bonds

By Sheri Kasprzak

New York, May 23 - Oakland University of Michigan priced $58,735,000 of series 2013A general revenue bonds, according to a pricing sheet.

The bonds were sold through BofA Merrill Lynch and Fifth Third Securities Inc.

The bonds are due 2016 to 2033 with term bonds due in 2038 and 2043. The serial coupons range from 4% to 5%. The 2038 bonds have a 5% coupon priced at 120.011, and the 2043 bonds have a 5% coupon priced at 120.239.

Proceeds will be used to construct a new parking structure, athletic fields, administrative buildings, a new road and other campus improvements.

Issuer:	Oakland University
Issue:	Series 2013A general revenue bonds
Amount:	$58,735,000
Type:	Negotiated
Underwriters:	BofA Merrill Lynch and Fifth Third Securities Inc. (lead)
Pricing date:	May 22
Settlement date:	June 20
Amount	Maturity	Type	Coupon	Price
$1.05 million	2016	Serial	4%	108.717
$1.09 million	2017	Serial	5%	114.56
$1,135,000	2018	Serial	4%	112.554
$1.19 million	2019	Serial	5%	118.62
$1.25 million	2020	Serial	5%	119.544
$1,315,000	2021	Serial	4%	113.208
$1.38 million	2022	Serial	5%	120.644
$1.45 million	2023	Serial	5%	120.831
$1.52 million	2024	Serial	5%	121.241
$1,595,000	2025	Serial	5%	120.922
$1,675,000	2026	Serial	5%	121.102
$1.76 million	2027	Serial	5%	120.945
$1.85 million	2028	Serial	5%	120.968
$1.94 million	2029	Serial	5%	120.966
$2.04 million	2030	Serial	5%	121.109
$2.14 million	2031	Serial	5%	121.14
$2,215,000	2032	Serial	5%	121.067
$2,295,000	2033	Serial	5%	120.894
$13.11 million	2038	Term	5%	120.011
$16,735,000	2043	Term	5%	120.239

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