Published on 1/15/2009 in the Prospect News Municipals Daily.
New Issue: Princeton University, N.J., sells $1 billion taxable bonds with 4.95%-5.7% coupons
By Sheri Kasprzak
New York, Jan. 15 - Princeton University in New Jersey priced $1 billion in series 2009 taxable bonds on Wednesday, according to an official statement released Thursday.
The bonds (Aaa/AAA/) were sold through lead managers Goldman, Sachs & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
The sale includes $500 million in bonds due March 1, 2019, which have a 4.95% coupon priced at 99.62, and $500 million in bonds due March 1, 2039, which have a 5.7% coupon priced at 99.721.
Proceeds will be used for working capital.
| Issuer: | Princeton University
|
| Issue: | Series 2009 taxable bonds
|
| Amount: | $1 billion
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | Jan. 14
|
| Settlement date: | Jan. 22
|
|
|
| 2019 bonds
|
| Maturity | Type | Coupon | Price
|
| March 1, 2019 | Term | 4.95% | 99.62
|
|
|
| 2039 bonds
|
| Maturity | Type | Coupon | Price
|
| March 1, 2039 | Term | 5.7% | 99.721
|
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