Published on 4/22/2016 in the Prospect News Municipals Daily.
New Issue: Purdue University, Ind., brings $121.77 million of student fee bonds
By Sheri Kasprzak
New York, April 22 – Purdue University of Indiana priced $121,765,000 of series CC student fee bonds, according to a pricing sheet. The deal was upsized from $120 million.
The bonds (Aaa/AAA) were sold through senior manager Barclays.
The bonds are due 2017 to 2036 with 3% to 5% coupons and yields from 0.64% to 2.44%.
Proceeds will be used to finance or refinance capital improvements to the university.
| Issuer: | Purdue University
|
| Issue: | Series CC student fee bonds
|
| Amount: | $121,765,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), Loop Capital Markets LLC and City Securities Corp. (co-managers)
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Pricing date: | April 21
|
| Settlement date: | May 26
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1,075,000 | 2017 | Serial | 3% | 102.575 | 0.64%
|
| $945,000 | 2018 | Serial | 4% | 106.814 | 0.72%
|
| $985,000 | 2019 | Serial | 5% | 112.789 | 0.81%
|
| $6,395,000 | 2020 | Serial | 5% | 116.28 | 0.94%
|
| $11,025,000 | 2021 | Serial | 5% | 119.334 | 1.09%
|
| $11.6 million | 2022 | Serial | 5% | 122.013 | 1.24%
|
| $12.17 million | 2023 | Serial | 5% | 124.392 | 1.38%
|
| $12.8 million | 2024 | Serial | 5% | 126.417 | 1.52%
|
| $13,425,000 | 2025 | Serial | 5% | 128.189 | 1.65%
|
| $13,615,000 | 2026 | Serial | 5% | 129.851 | 1.76%
|
| $13.77 million | 2027 | Serial | 3% | 109.1 | 2.00%
|
| $9.25 million | 2028 | Serial | 3% | 106.926 | 2.23%
|
| $1.54 million | 2029 | Serial | 5% | 126.989 | 2.03%
|
| $1,615,000 | 2030 | Serial | 5% | 126.364 | 2.09%
|
| $1.7 million | 2031 | Serial | 5% | 125.741 | 2.15%
|
| $1,785,000 | 2032 | Serial | 5% | 125.123 | 2.21%
|
| $1.87 million | 2033 | Serial | 5% | 124.508 | 2.27%
|
| $1,965,000 | 2034 | Serial | 5% | 123.897 | 2.33%
|
| $2,065,000 | 2035 | Serial | 5% | 123.289 | 2.39%
|
| $2.17 million | 2036 | Serial | 5% | 122.786 | 2.44%
|
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