Published on 9/18/2012 in the Prospect News Municipals Daily.
New Issue: Pennsylvania Higher Educational brings $200 million of Temple University bonds
By Sheri Kasprzak
New York, Sept. 18 - The Pennsylvania Higher Educational Facilities Authority sold $200 million of series 2012 revenue bonds for Temple University, according to a pricing sheet.
The bonds (Aa3/A+/) were sold through Citigroup Global Markets Inc. with Janney Montgomery Scott LLC and RBC Capital Markets LLC as the co-managers.
The bonds are due 2013 to 2032 with term bonds due in 2035 and 2042. The serial coupons range from 1% to 5%. The 2035 bonds have a 5% coupon priced at 112.286 and the 2042 bonds have a 5% coupon priced at 110.75.
Proceeds will be used to finance or reimburse the university for the construction, equipment, acquisition and renovation of residence halls and a food service facility, a science, research and education center and a state-of-the-art library, as well as the construction of a new football facility and other capital improvements.
Issuer: | Pennsylvania Higher Educational Facilities Authority/Temple University
|
Issue: | Series 2012 revenue bonds
|
Amount: | $200 million
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. (lead), Janney Montgomery Scott LLC and RBC Capital Markets LLC (co-managers)
|
Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
Pricing date: | Sept. 18
|
Settlement date: | Oct. 3
|
|
Amount | Maturity | Type | Coupon | Price
|
$4,805,000 | 2013 | Serial | 1% | 100.395
|
$3.34 million | 2014 | Serial | 3% | 103.885
|
$3.44 million | 2015 | Serial | 3% | 105.984
|
$3,545,000 | 2016 | Serial | 4% | 111.115
|
$3,685,000 | 2017 | Serial | 4% | 112.917
|
$3.83 million | 2018 | Serial | 4% | 113.533
|
$3,985,000 | 2019 | Serial | 5% | 119.666
|
$4,185,000 | 2020 | Serial | 5% | 120.32
|
$4,395,000 | 2021 | Serial | 5% | 120.042
|
$4,615,000 | 2022 | Serial | 5% | 120.731
|
$4,845,000 | 2023 | Serial | 5% | 119.057
|
$5,085,000 | 2024 | Serial | 5% | 117.865
|
$5.34 million | 2025 | Serial | 5% | 117.229
|
$5.61 million | 2026 | Serial | 5% | 116.597
|
$5.89 million | 2027 | Serial | 5% | 116.059
|
$6,185,000 | 2028 | Serial | 5% | 115.079
|
$6.49 million | 2029 | Serial | 5% | 114.549
|
$6,815,000 | 2030 | Serial | 5% | 114.197
|
$7,155,000 | 2031 | Serial | 5% | 113.934
|
$7,515,000 | 2032 | Serial | 5% | 113.585
|
$24,875,000 | 2035 | Term | 5% | 112.286
|
$74.37 million | 2042 | Term | 5% | 110.75
|
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