Published on 1/10/2013 in the Prospect News Municipals Daily.
New Issue: Arizona State University sells $110.95 million revenue, refunding bonds
By Sheri Kasprzak
New York, Jan. 10 - The Arizona State University sold $110.95 million of series 2013 system revenue and revenue refunding bonds, according to a pricing sheet.
The deal included $84,855,000 of series 2013A revenue bonds and $26,095,000 of series 2013B taxable revenue and refunding bonds.
The 2013A bonds are due 2014 to 2033 with term bonds due in 2037 and 2043. The serial coupons range from 2% to 5%. The 2037 bonds have a 5% coupon priced at 115.713, and the 2043 bonds have a 5% coupon priced at 114.741.
The 2013B bonds are due 2014 to 2025 with coupons from 0.544% to 3.06%, all priced at par.
The bonds (Aa3) were sold through Wells Fargo Securities LLC.
Proceeds will be used to finance capital improvements to university facilities and refund existing revenue debt.
| Issuer: | Arizona State University
|
| Issue: | Series 2013 system revenue and revenue refunding bonds
|
| Amount: | $110.95 million
|
| Type: | Negotiated
|
| Underwriter: | Wells Fargo Securities LLC (lead)
|
| Ratings: | Moody's: Aa3
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 22
|
|
|
| $84,855,000 series 2013A revenue bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $370,000 | 2014 | Serial | 2% | 102.326
|
| $385,000 | 2015 | Serial | 2% | 103.363
|
| $3.46 million | 2016 | Serial | 4% | 111.165
|
| $2,135,000 | 2017 | Serial | 4% | 113.42
|
| $2.33 million | 2018 | Serial | 4% | 115.219
|
| $2,425,000 | 2019 | Serial | 5% | 123.139
|
| $980,000 | 2020 | Serial | 3% | 110.301
|
| $1,235,000 | 2021 | Serial | 3% | 109.522
|
| $1.28 million | 2022 | Serial | 4% | 116.941
|
| $1,325,000 | 2023 | Serial | 4% | 115.453
|
| $1,375,000 | 2024 | Serial | 5% | 123.177
|
| $1.77 million | 2025 | Serial | 5% | 122.415
|
| $3,255,000 | 2026 | Serial | 5% | 121.753
|
| $3,415,000 | 2027 | Serial | 5% | 121.188
|
| $3.59 million | 2028 | Serial | 5% | 120.348
|
| $3,765,000 | 2029 | Serial | 5% | 119.606
|
| $3.96 million | 2030 | Serial | 5% | 119.054
|
| $4,155,000 | 2031 | Serial | 5% | 118.504
|
| $4,365,000 | 2032 | Serial | 5% | 117.958
|
| $4.58 million | 2033 | Serial | 5% | 117.595
|
| $13.38 million | 2037 | Term | 5% | 115.713
|
| $21.32 million | 2043 | Term | 5% | 114.741
|
|
|
| $26,095,000 series 2013B taxable revenue and refunding bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.38 million | 2014 | Serial | 0.544% | 100
|
| $1.39 million | 2015 | Serial | 0.705% | 100
|
| $4,155,000 | 2016 | Serial | 1.021% | 100
|
| $3,635,000 | 2017 | Serial | 1.271% | 100
|
| $3.17 million | 2018 | Serial | 1.714% | 100
|
| $3,225,000 | 2019 | Serial | 1.914% | 100
|
| $1,485,000 | 2020 | Serial | 2.26% | 100
|
| $1,515,000 | 2021 | Serial | 2.51% | 100
|
| $1,555,000 | 2022 | Serial | 2.66% | 100
|
| $1,595,000 | 2023 | Serial | 2.76% | 100
|
| $1.64 million | 2024 | Serial | 2.91% | 100
|
| $1.35 million | 2025 | Serial | 3.06% | 100
|
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