Published on 4/17/2015 in the Prospect News Municipals Daily.
New Issue: New Jersey Educational sells $156.8 million Princeton University bonds
By Sheri Kasprzak
New York, April 17 – The New Jersey Educational Facilities Authority sold $156.79 million of series 2015A revenue refunding bonds for Princeton University, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through Morgan Stanley & Co. LLC.
The bonds are due 2016 to 2035 with 3% to 5% coupons and 0.25% to 3.01% yields.
Proceeds will be used to refund existing Princeton revenue bonds.
| Issuer: | New Jersey Educational Facilities Authority/Princeton University
|
| Issue: | Series 2015A revenue refunding bonds
|
| Amount: | $156.79 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), BofA Merrill Lynch and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | April 17
|
| Settlement date: | May 15
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3,275,000 | 2016 | Serial | 3% | 103.094 | 0.25%
|
| $8,845,000 | 2017 | Serial | 5% | 109.288 | 0.60%
|
| $9,935,000 | 2018 | Serial | 5% | 112.715 | 0.87%
|
| $250,000 | 2019 | Serial | 3% | 107.688 | 1.09%
|
| $16,785,000 | 2019 | Serial | 5% | 115.738 | 1.09%
|
| $200,000 | 2020 | Serial | 4% | 113.616 | 1.25%
|
| $20,195,000 | 2020 | Serial | 5% | 118.568 | 1.25%
|
| $11,845,000 | 2021 | Serial | 5% | 121.002 | 1.41%
|
| $100,000 | 2022 | Serial | 3% | 109.535 | 1.58%
|
| $18,015,000 | 2022 | Serial | 5% | 122.966 | 1.58%
|
| $4.21 million | 2023 | Serial | 5% | 124.778 | 1.72%
|
| $8,635,000 | 2024 | Serial | 5% | 126.342 | 1.85%
|
| $3.24 million | 2025 | Serial | 5% | 127.905 | 1.95%
|
| $8.2 million | 2026 | Serial | 5% | 126.539 | 2.08%
|
| $3.22 million | 2027 | Serial | 5% | 125.5 | 2.18%
|
| $9,105,000 | 2028 | Serial | 5% | 124.369 | 2.29%
|
| $4,455,000 | 2029 | Serial | 5% | 123.452 | 2.38%
|
| $4.7 million | 2030 | Serial | 5% | 122.745 | 2.45%
|
| $3,915,000 | 2031 | Serial | 5% | 122.143 | 2.51%
|
| $4.11 million | 2032 | Serial | 5% | 121.643 | 2.56%
|
| $4,315,000 | 2033 | Serial | 5% | 121.345 | 2.59%
|
| $4.53 million | 2034 | Serial | 4% | 108.857 | 2.98%
|
| $4.71 million | 2035 | Serial | 4% | 108.584 | 3.01%
|
© 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.
