By Sheri Kasprzak
New York, Feb. 9 - The Pennsylvania Higher Educational Facilities Authority brought $150 million of series 2011 revenue bonds for the University of Pennsylvania on Wednesday, said a term sheet.
The bonds (Aa2) were sold through Morgan Stanley & Co. Inc.
The bonds are due 2016, 2018 and 2020 to 2031 with a term bond due in 2041. The serial coupons range from 4% to 5%. The 2041 bonds have a 5% coupon priced at 97.255.
Proceeds will be used to finance various capital projects, including research, academic and student residence facilities.
Issuer: | Pennsylvania Higher Educational Facilities Authority/University of Pennsylvania
|
Issue: | Series 2011 revenue bonds
|
Amount: | $150 million
|
Type: | Negotiated
|
Underwriter: | Morgan Stanley & Co. Inc.
|
Rating: | Moody's: Aa2
|
Pricing date: | Feb. 9
|
Settlement date: | March 2
|
|
Amount | Maturity | Type | Coupon | Price
|
$3.37 million | 2016 | Serial | 4.5% | 111.628
|
$3.535 million | 2018 | Serial | 5% | 113.914
|
$3.705 million | 2020 | Serial | 4.5% | 108.104
|
$3.885 million | 2021 | Serial | 5% | 111.407
|
$4.085 million | 2022 | Serial | 5% | 109.207
|
$4.275 million | 2023 | Serial | 4% | 99.513
|
$4.47 million | 2024 | Serial | 5% | 106.56
|
$4.7 million | 2025 | Serial | 5% | 105.39
|
$4.94 million | 2026 | Serial | 5% | 105.39
|
$450,000 | 2027 | Serial | 4.5% | 99.424
|
$4.74 million | 2027 | Serial | 5% | 103.582
|
$5.455 million | 2028 | Serial | 5% | 102.772
|
$1.18 million | 2029 | Serial | 4.7% | 99.632
|
$4.555 million | 2029 | Serial | 5% | 99.632
|
$6.03 million | 2030 | Serial | 5% | 101.573
|
$6.335 million | 2031 | Serial | 5% | 101.019
|
$84.29 million | 2041 | Term | 5% | 97.255
|
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