Published on 4/8/2015 in the Prospect News Municipals Daily.
New Issue: Tampa brings to market $76.69 million University of Tampa revenue bonds
By Sheri Kasprzak
New York, April 8 – The City of Tampa, Fla., sold $76.69 million of series 2015 revenue and revenue refunding bonds for the University of Tampa, according to a pricing sheet.
The bonds were sold through SunTrust Robinson Humphrey Inc. and BofA Merrill Lynch.
The bonds are due 2016 to 2035 with term bonds due in 2040 and 2045. The serial coupons range from 4% to 5% with 0.49% to 3.68% yields. The 2040 bonds have a 5% coupon priced at 110.814 to yield 3.69% and the 2045 bonds have a 5% coupon priced at 110.376 to yield 3.74%.
Proceeds will be used to construct, equip, acquire and renovate student housing facilities, to construct, equip and acquire a mixed-use facility including improvements to an existing parking garage, offices, classrooms and other facilities and to refund the university’s series 2006 revenue bonds.
| Issuer: | City of Tampa, Fla./University of Tampa
|
| Issue: | Series 2015 revenue and revenue refunding bonds
|
| Amount: | $76.69 million
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| Type: | Negotiated
|
| Underwriters: | SunTrust Robinson Humphrey Inc. and BofA Merrill Lynch
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| Pricing date: | April 8
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| Settlement date: | April 23
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $980,000 | 2016 | Serial | 4% | 103.283 | 0.49%
|
| $920,000 | 2017 | Serial | 4% | 106.044 | 0.85%
|
| $960,000 | 2018 | Serial | 4% | 107.97 | 1.23%
|
| $995,000 | 2019 | Serial | 5% | 113.255 | 1.52%
|
| $1,045,000 | 2020 | Serial | 5% | 115.107 | 1.79%
|
| $1,095,000 | 2021 | Serial | 5% | 116.293 | 2.07%
|
| $1.15 million | 2022 | Serial | 5% | 117.153 | 2.31%
|
| $1.21 million | 2023 | Serial | 5% | 118.373 | 2.44%
|
| $1.27 million | 2024 | Serial | 5% | 118.505 | 2.66%
|
| $1,335,000 | 2025 | Serial | 5% | 119.065 | 2.79%
|
| $1.4 million | 2026 | Serial | 5% | 117.358 | 2.97%
|
| $1.47 million | 2027 | Serial | 5% | 115.772 | 3.14%
|
| $1,545,000 | 2028 | Serial | 5% | 114.668 | 3.26%
|
| $1,625,000 | 2029 | Serial | 5% | 113.939 | 3.34%
|
| $1.7 million | 2030 | Serial | 5% | 113.306 | 3.41%
|
| $1,785,000 | 2031 | Serial | 5% | 112.319 | 3.52%
|
| $1.88 million | 2032 | Serial | 5% | 111.874 | 3.57%
|
| $3.34 million | 2033 | Serial | 5% | 111.519 | 3.61%
|
| $3,505,000 | 2034 | Serial | 5% | 111.166 | 3.65%
|
| $3.68 million | 2035 | Serial | 5% | 110.902 | 3.68%
|
| $15,555,000 | 2040 | Term | 5% | 110.814 | 3.69%
|
| $28,245,000 | 2045 | Term | 5% | 110.376 | 3.74%
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