By Sheri Kasprzak
New York, Sept. 21 - The Pennsylvania Higher Educational Facilities Authority priced Tuesday $119.5 million in series 2010A revenue bonds for Saint Joseph's University, said a pricing sheet.
The bonds (/A-/A-) were sold through Barclays Capital Inc.
The bonds are due 2011 to 2026 with term bonds due 2030, 2034 and 2040. The serial coupons range from 2% to 5%.
The 2030 bonds have a split maturity with a 4.25% coupon priced at 99.462 and a 5% coupon priced at 105.758. The 2034 bonds have a split maturity with a 4.25% coupon priced at 95.634, a 4.5% coupon priced at 99.269 and a 5% coupon priced at 103.602. The 2040 bonds also have a split maturity with a 4.6% coupon priced at 99.592 and a 5% coupon priced at 102.99.
Proceeds from the sale will be used to refinance $80 million in existing variable-rate debt, finance the construction of a new residence hall and facilitate other capital improvements at the university.
Based in Lemoyne, the authority provides funding for higher educational facilities within the commonwealth. The university is based in Philadelphia.
| Issuer: | Pennsylvania Higher Educational Facilities Authority/Saint Joseph's University
|
| Issue: | Series 2010A revenue bonds
|
| Amount: | $119.5 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc.
|
| Ratings: | Standard & Poor's: A-
|
| Fitch: A-
|
| Pricing date: | Sept. 21
|
| Settlement date: | Oct. 1
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 2% | 101.237
|
| 2012 | Serial | 2% | 101.640
|
| 2013 | Serial | 2% | 101.621
|
| 2014 | Serial | 2% | 100.980
|
| 2015 | Serial | 3% | 104.169
|
| 2016 | Serial | 3% | 102.918
|
| 2017 | Serial | 3% | 101.468
|
| 2018 | Serial | 4% | 107.054
|
| 2019 | Serial | 4% | 106.098
|
| 2020 | Serial | 4% | 105.083
|
| 2021 | Serial | 4% | 103.956
|
| 2022 | Serial | 4% | 102.928
|
| 2023 | Serial | 4% | 102.249
|
| 2023 | Serial | 5% | 110.588
|
| 2024 | Serial | 4% | 101.575
|
| 2024 | Serial | 5% | 109.882
|
| 2025 | Serial | 5% | 109.269
|
| 2026 | Serial | 5% | 108.573
|
| 2030 | Term | 4.25% | 99.460
|
| 2030 | Term | 5% | 105.758
|
| 2034 | Term | 4.25% | 95.634
|
| 2034 | Term | 4.5% | 99.269
|
| 2034 | Term | 5% | 103.602
|
| 2040 | Term | 4.6% | 99.592
|
| 2040 | Term | 5% | 102.990
|
© 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.
