By Sheri Kasprzak
New York, Jan. 7 – The Public Finance Authority of Wisconsin sold $333.18 million of series 2016 lease development revenue bonds for the Kansas University Campus Development Corp., according to a pricing sheet.
The bonds (Aa2) were sold through J.P. Morgan Securities LLC.
The bonds are due 2018 to 2036 with term bonds due in 2041 and 2046. The serial coupons range from 4% to 5% with yields from 0.89% to 3.02%. The 2041 bonds have a 5% coupon priced at 114.975 to yield 3.25%, and the 2046 bonds have a 5% coupon priced at 114.418 to yield 3.31%.
Proceeds will be used to upgrade and improve classrooms, student life facilities and other campus projects.
| Issuer: | Public Finance Authority/Kansas University Campus Development Corp.
|
| Issue: | Series 2016 lease development revenue bonds
|
| Amount: | $333.18 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), BofA Merrill Lynch, Barclays, George K. Baum & Co. and Wells Fargo Securities LLC (co-managers)
|
| Rating: | Moody’s: Aa2
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 21
|
|
|
| Maturity | Type | Coupon | Price | Yield
|
| 2018 | Serial | 4% | 106.489 | 0.89%
|
| 2019 | Serial | 5% | 111.96 | 1.08%
|
| 2020 | Serial | 5% | 115.067 | 1.23%
|
| 2021 | Serial | 5% | 117.804 | 1.38%
|
| 2022 | Serial | 5% | 120.104 | 1.54%
|
| 2023 | Serial | 5% | 121.64 | 1.75%
|
| 2024 | Serial | 5% | 123.03 | 1.92%
|
| 2025 | Serial | 5% | 124.119 | 2.08%
|
| 2026 | Serial | 5% | 125.36 | 2.19%
|
| 2027 | Serial | 5% | 123.926 | 2.33%
|
| 2028 | Serial | 5% | 122.512 | 2.47%
|
| 2029 | Serial | 5% | 121.414 | 2.58%
|
| 2030 | Serial | 5% | 120.426 | 2.68%
|
| 2031 | Serial | 5% | 119.74 | 2.75%
|
| 2032 | Serial | 5% | 119.253 | 2.80%
|
| 2033 | Serial | 5% | 118.768 | 2.85%
|
| 2034 | Serial | 5% | 118.286 | 2.90%
|
| 2035 | Serial | 5% | 117.71 | 2.96%
|
| 2036 | Serial | 5% | 117.138 | 3.02%
|
| 2041 | Term | 5% | 114.975 | 3.25%
|
| 2046 | Term | 5% | 114.418 | 3.31%
|
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