Published on 4/25/2013 in the Prospect News Municipals Daily.
New Issue: Olin College, Mass., sells $60.68 million revenue bonds
By Sheri Kasprzak
New York, April 25 - The Massachusetts Development Finance Agency priced $60,675,000 of series 2013E revenue bonds for Olin College, according to a pricing sheet.
The bonds (A2/A+/) were sold through Barclays and Wells Fargo Securities LLC.
The bonds are due in 2038 and 2043. The 2038 bonds have a 5% coupon priced at 112.594. The 2038 bonds have a split maturity with a 4% coupon priced at 98.5 and a 5% coupon priced at 111.666.
Proceeds will be used to current refund existing debt on July 1, 2013.
| Issuer: | Massachusetts Development Finance Agency/Olin College
|
| Issue: | Series 2013E revenue bonds
|
| Amount: | $60,675,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays and Wells Fargo Securities LLC (lead)
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Pricing date: | April 25
|
| Settlement date: | May 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $26.75 million | 2038 | Term | 5% | 112.594
|
| $11 million | 2043 | Term | 4% | 98.5
|
| $22,925,000 | 2043 | Term | 5% | 111.666
|
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