Published on 12/5/2012 in the Prospect News Municipals Daily.
New Issue: Oregon Health and Science University sells $126.37 million of bonds
By Sheri Kasprzak
New York, Dec. 5 - The Oregon Health and Science University priced $126,365,000 of series 2012E revenue bonds, according to a pricing sheet.
The bonds (A1/A+/A+) were sold through J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
The bonds are due 2023 to 2032 with 4% to 5% coupons.
Proceeds will be used to refund the university's series 2002A revenue bonds for an expected $15 million net present value savings.
| Issuer: | Oregon Health and Science University
|
| Issue: | Series 2012E revenue bonds
|
| Amount: | $127,365,000
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead), Bank of America Merrill Lynch, Loop Capital Markets LLC, Cabrera Capital Markets LLC and NativeOne Capital Markets (co-managers)
|
| Rating: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: A+
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 20
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.48 million | 2023 | Serial | 4% | 114.658
|
| $2,635,000 | 2024 | Serial | 5% | 122.413
|
| $2,505,000 | 2025 | Serial | 5% | 121.746
|
| $2.56 million | 2026 | Serial | 5% | 121.083
|
| $2,535,000 | 2027 | Serial | 5% | 120.33
|
| $2,635,000 | 2028 | Serial | 5% | 119.77
|
| $20,605,000 | 2029 | Serial | 4% | 109.45
|
| $28.86 million | 2030 | Serial | 5% | 119.491
|
| $30.14 million | 2031 | Serial | 4% | 108.407
|
| $31.41 million | 2032 | Serial | 5% | 118.658
|
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