Published on 2/26/2015 in the Prospect News Municipals Daily.
New Issue: Purdue University, Ind., sells $98.07 million student facilities bonds
By Sheri Kasprzak
New York, Feb. 26 – Purdue University of Indiana sold $98.07 million of series 2015A Purdue University student facilities system revenue bonds, according to a pricing sheet.
The bonds (Aaa/AA+/) were sold through BofA Merrill Lynch.
The bonds are due 2015 to 2035 with a term bond due in 2040. The serial coupons range from 3% to 5%. The 2040 bonds have a 4% coupon priced at 104.516.
Proceeds will be used to construct, equip, acquire and improve student housing facilities and refund existing bonds.
| Issuer: | Purdue University
|
| Issue: | Series 2015A Purdue University student facilities system revenue bonds
|
| Amount: | $98.07 million
|
| Type: | Negotiated
|
| Underwriters: | BofA Merrill Lynch (lead), Barclays and Cabrera Capital Markets LLC (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AA+
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 31
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $325,000 | 2015 | Serial | 3% | 100.687
|
| $1.46 million | 2016 | Serial | 5% | 105.859
|
| $1,535,000 | 2017 | Serial | 5% | 109.818
|
| $1,615,000 | 2018 | Serial | 5% | 112.998
|
| $2.63 million | 2019 | Serial | 4% | 111.831
|
| $2.74 million | 2020 | Serial | 5% | 118.27
|
| $2,875,000 | 2021 | Serial | 5% | 120.407
|
| $3.03 million | 2022 | Serial | 5% | 121.58
|
| $3,175,000 | 2023 | Serial | 5% | 122.623
|
| $3,335,000 | 2024 | Serial | 5% | 123.316
|
| $3,505,000 | 2025 | Serial | 5% | 123.261
|
| $3.68 million | 2026 | Serial | 5% | 121.896
|
| $3,865,000 | 2027 | Serial | 5% | 120.835
|
| $4,065,000 | 2028 | Serial | 5% | 119.881
|
| $6.24 million | 2029 | Serial | 3% | 98.286
|
| $4.51 million | 2030 | Serial | 3% | 97.48
|
| $1.93 million | 2030 | Serial | 5% | 118.935
|
| $6.66 million | 2031 | Serial | 3.125% | 98.18
|
| $6,945,000 | 2032 | Serial | 5% | 117.812
|
| $5,575,000 | 2033 | Serial | 5% | 117.44
|
| $4.81 million | 2034 | Serial | 5% | 117.07
|
| $3,545,000 | 2035 | Serial | 4% | 105.109
|
| $20.02 million | 2040 | Term | 4% | 104.516
|
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