Published on 5/23/2013 in the Prospect News Municipals Daily.
New Issue: Ohio University offers $145.17 million general receipt bonds through Barclays
By Sheri Kasprzak
New York, May 23 - The Ohio University sold $145.17 million of series 2013 general receipts bonds, according to a pricing sheet.
The bonds (Aa3/A+/) were sold through Barclays and Goldman, Sachs & Co.
The bonds are due 2013 to 2033 with term bonds due in 2036, 2039 and 2043. The serial coupons range from 2% to 5% with 0.17% to 3.34% yields. The 2036 bonds have a 5% coupon priced at 112.107 to yield 3.49% and the 2039 bonds have a 5% coupon priced at 111.168 to yield 3.6%. The 2043 bonds have a 5% coupon priced at 110.575 to yield 3.67%.
Proceeds will be used to refinance construction projects and refund the university's series 2001 bonds.
| Issuer: | Ohio University
|
| Issue: | Series 2013 general receipts bonds
|
| Amount: | $145.17 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays and Goldman, Sachs & Co. (lead), Huntington Investment Co., PNC Capital Markets LLC and Rice Financial Products Co. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | May 23
|
| Settlement date: | June 5
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $2,225,000 | 2013 | Serial | 2% | 100.893 | 0.17%
|
| $5.61 million | 2014 | Serial | 5% | 106.914 | 0.34%
|
| $4.24 million | 2015 | Serial | 5% | 111.064 | 0.52%
|
| $4,445,000 | 2016 | Serial | 5% | 114.533 | 0.77%
|
| $2,395,000 | 2017 | Serial | 3% | 108.574 | 1.04%
|
| $2,465,000 | 2018 | Serial | 3% | 108.811 | 1.33%
|
| $2,525,000 | 2019 | Serial | 3% | 108.274 | 1.65%
|
| $2,615,000 | 2020 | Serial | 4% | 114.444 | 1.92%
|
| $2,715,000 | 2021 | Serial | 4% | 114.201 | 2.16%
|
| $2,835,000 | 2022 | Serial | 5% | 122.326 | 2.36%
|
| $4.95 million | 2023 | Serial | 5% | 121.19 | 2.48%
|
| $5.19 million | 2024 | Serial | 5% | 119.601 | 2.65%
|
| $5.46 million | 2025 | Serial | 5% | 118.587 | 2.76%
|
| $5,685,000 | 2026 | Serial | 4% | 106.417 | 3.21%
|
| $5.49 million | 2027 | Serial | 4% | 105.746 | 3.29%
|
| $5.72 million | 2028 | Serial | 4% | 105.079 | 3.37%
|
| $5.96 million | 2029 | Serial | 4% | 104.418 | 3.45%
|
| $6,195,000 | 2030 | Serial | 4% | 103.925 | 3.51%
|
| $6.48 million | 2031 | Serial | 5% | 114.454 | 3.22%
|
| $750,000 | 2032 | Serial | 3.5% | 98.194 | 3.63%
|
| $3.12 million | 2032 | Serial | 5% | 113.927 | 3.28%
|
| $4.06 million | 2033 | Serial | 5% | 113.404 | 3.34%
|
| $13.49 million | 2036 | Term | 5% | 112.107 | 3.49%
|
| $15.66 million | 2039 | Term | 5% | 111.168 | 3.60%
|
| $24.89 million | 2043 | Term | 5% | 110.575 | 3.67%
|
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