Published on 8/1/2012 in the Prospect News Municipals Daily.
New Issue: Purdue University, Ind., prices $58.58 million of student fee bonds
By Sheri Kasprzak
New York, Aug. 1 - Purdue University of Indiana came to market with $58,575,000 of series 2012 student fee bonds, according to a pricing sheet.
The bonds (Aaa/AA+/) were sold through lead manager Morgan Stanley & Co. LLC. The co-managers were Loop Capital Markets LLC and Cabrera Capital Markets LLC.
The bonds are due 2013 to 2032 with 1.25% to 5% coupons.
Proceeds will be used to finance capital projects on the university's West Lafayette campus, as well as to refund existing commercial paper notes.
| Issuer: | Purdue University
|
| Issue: | Series 2012 student fee bonds
|
| Amount: | $58,575,000
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. LLC (lead), Loop Capital Markets LLC and Cabrera Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Pricing date: | Aug. 1
|
| Settlement date: | Aug. 9
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.94 million | 2013 | Serial | 1.25% | NRO
|
| $1,995,000 | 2014 | Serial | 4% | 106.846
|
| $2.06 million | 2015 | Serial | 4% | 110.105
|
| $2,155,000 | 2016 | Serial | 4% | 113.067
|
| $2.27 million | 2017 | Serial | 4% | 115.484
|
| $2.38 million | 2018 | Serial | 5% | 122.647
|
| $2.51 million | 2019 | Serial | 5% | 124.173
|
| $2,635,000 | 2020 | Serial | 4% | 118.219
|
| $2.77 million | 2021 | Serial | 5% | 126.848
|
| $2,915,000 | 2022 | Serial | 5% | 127.736
|
| $3.03 million | 2023 | Serial | 5% | 126.397
|
| $3,125,000 | 2024 | Serial | 5% | 125.075
|
| $3,215,000 | 2025 | Serial | 5% | 123.969
|
| $3.32 million | 2026 | Serial | 5% | 123.072
|
| $3.42 million | 2027 | Serial | 5% | 122.381
|
| $480,000 | 2028 | Serial | 3% | 98.75
|
| $3.05 million | 2028 | Serial | 5% | 121.693
|
| $3,635,000 | 2029 | Serial | 4% | 109.761
|
| $3,765,000 | 2030 | Serial | 5% | 120.333
|
| $3,885,000 | 2031 | Serial | 3.25% | 98.606
|
| $4.02 million | 2032 | Serial | 3.25% | 97.841
|
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