By Sheri Kasprzak
New York, April 9 - Temple University in Pennsylvania sold $120 million in series 2009 commonwealth system of higher education university funding obligations, said a sellside source close to the deal.
The 1.25% bonds (MIG1) are due April 16, 2010 and were priced to yield 0.41%.
Goldman, Sachs & Co. was the winning bidder for the competitive sale. The true interest cost came in at 0.4138%. Public Financial Management Inc. was the financial adviser.
Proceeds will be used for equipment purchases, facilities, construction and the refinancing of the university's series 2008 funding obligations.
| Issuer: | Temple University
|
| Issue: | Series 2009 commonwealth system of higher education university funding obligations
|
| Amount: | $120 million
|
| Maturity: | April 16, 2010
|
| Coupon: | 1.25%
|
| Yield: | 0.41%
|
| TIC: | 0.4138%
|
| Underwriter: | Goldman, Sachs & Co.
|
| Rating: | Moody's: MIG1
|
| Pricing date: | April 9
|
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