Published on 1/16/2013 in the Prospect News Municipals Daily.
New Issue: Ohio State University sells $337.96 million of general receipts bonds
By Sheri Kasprzak
New York, Jan. 16 - Ohio State University sold $337,955,000 of series 2013A special purpose general receipts bonds, according to a pricing sheet.
The bonds (Aa2/AA-/) were sold through Barclays and RBC Capital Markets LLC.
The bonds are due 2023 to 2033 with term bonds due in 2038 and 2043. The serial coupons range from 3% to 5%. The 2038 bonds have a split maturity with a 3.5% coupon priced at 99 and a 5% coupon priced at 117.362. The 2043 bonds have a split maturity with a 4% coupon priced at 104.831 and a 5% coupon priced at 116.589.
Proceeds will be used to construct, acquire and equip student housing, dining and recreational facilities at the university's Columbus campus.
| Issuer: | Ohio State University
|
| Issue: | Series 2013A special purpose general receipts bonds
|
| Amount: | $337,955,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays and RBC Capital Markets LLC (lead), Loop Capital Markets LLC and PNC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $10,195,000 | 2023 | Serial | 5% | 127.985
|
| $10,705,000 | 2024 | Serial | 5% | 126.279
|
| $11.24 million | 2025 | Serial | 5% | 125.016
|
| $11.8 million | 2026 | Serial | 3% | 101.781
|
| $12,155,000 | 2027 | Serial | 3% | 101.063
|
| $12.52 million | 2028 | Serial | 5% | 122.946
|
| $13,145,000 | 2029 | Serial | 4% | 110.227
|
| $13.67 million | 2030 | Serial | 4% | 109.57
|
| $14.22 million | 2031 | Serial | 4% | 108.825
|
| $14,785,000 | 2032 | Serial | 4% | 108.362
|
| $15.38 million | 2033 | Serial | 4% | 107.902
|
| $15 million | 2038 | Term | 3.5% | 99
|
| $72.92 million | 2038 | Term | 5% | 117.362
|
| $60.22 million | 2043 | Term | 4% | 104.831
|
| $50 million | 2043 | Term | 5% | 116.589
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
