Published on 9/4/2013 in the Prospect News Municipals Daily.
New Issue: Onondaga County Cultural Resources sells $64.46 million Syracuse bonds
By Sheri Kasprzak
New York, Sept. 4 - The Onondaga County Cultural Resources Trust of New York sold $64.46 million of series 2013 revenue bonds for Syracuse University, according to a pricing sheet.
The bonds (Aa3/AA-/) were sold through J.P. Morgan Securities LLC.
The bonds are due 2014 to 2033 with a term bond due in 2038. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 100.23.
Proceeds will be used to make a loan to Syracuse University for renovations to existing university buildings on the Syracuse campus and on properties in the Town of Onondaga.
| Issuer: | Onondaga County Cultural Resources Trust/Syracuse University
|
| Issue: | Series 2013 revenue bonds
|
| Amount: | $64.46 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Pricing date: | Sept. 4
|
| Settlement date: | Sept. 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,385,000 | 2014 | Serial | 2% | 102.055
|
| $1.42 million | 2015 | Serial | 3% | 105.328
|
| $1.47 million | 2016 | Serial | 4% | 109.646
|
| $1.54 million | 2017 | Serial | 5% | 114.698
|
| $1.62 million | 2018 | Serial | 5% | 115.6
|
| $1.7 million | 2019 | Serial | 5% | 116
|
| $1.79 million | 2020 | Serial | 5% | 115.558
|
| $1.88 million | 2021 | Serial | 5% | 114.468
|
| $1,975,000 | 2022 | Serial | 5% | 113.498
|
| $2.08 million | 2023 | Serial | 5% | 112.514
|
| $2,185,000 | 2024 | Serial | 5% | 110.435
|
| $2,295,000 | 2025 | Serial | 5% | 108.752
|
| $2,415,000 | 2026 | Serial | 5% | 107.187
|
| $2.54 million | 2027 | Serial | 5% | 105.903
|
| $2.67 million | 2028 | Serial | 5% | 104.889
|
| $2,805,000 | 2029 | Serial | 5% | 103.887
|
| $2.95 million | 2030 | Serial | 5% | 102.978
|
| $3.1 million | 2031 | Serial | 5% | 102.323
|
| $3.26 million | 2032 | Serial | 5% | 101.674
|
| $3,425,000 | 2033 | Serial | 5% | 101.19
|
| $19,955,000 | 2038 | Term | 5% | 100.23
|
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