Published on 9/18/2012 in the Prospect News Municipals Daily.
New Issue: Pennsylvania Higher Educational brings $200 million of Temple University bonds
By Sheri Kasprzak
New York, Sept. 18 - The Pennsylvania Higher Educational Facilities Authority sold $200 million of series 2012 revenue bonds for Temple University, according to a pricing sheet.
The bonds (Aa3/A+/) were sold through Citigroup Global Markets Inc. with Janney Montgomery Scott LLC and RBC Capital Markets LLC as the co-managers.
The bonds are due 2013 to 2032 with term bonds due in 2035 and 2042. The serial coupons range from 1% to 5%. The 2035 bonds have a 5% coupon priced at 112.286 and the 2042 bonds have a 5% coupon priced at 110.75.
Proceeds will be used to finance or reimburse the university for the construction, equipment, acquisition and renovation of residence halls and a food service facility, a science, research and education center and a state-of-the-art library, as well as the construction of a new football facility and other capital improvements.
| Issuer: | Pennsylvania Higher Educational Facilities Authority/Temple University
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $200 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets Inc. (lead), Janney Montgomery Scott LLC and RBC Capital Markets LLC (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | Sept. 18
|
| Settlement date: | Oct. 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,805,000 | 2013 | Serial | 1% | 100.395
|
| $3.34 million | 2014 | Serial | 3% | 103.885
|
| $3.44 million | 2015 | Serial | 3% | 105.984
|
| $3,545,000 | 2016 | Serial | 4% | 111.115
|
| $3,685,000 | 2017 | Serial | 4% | 112.917
|
| $3.83 million | 2018 | Serial | 4% | 113.533
|
| $3,985,000 | 2019 | Serial | 5% | 119.666
|
| $4,185,000 | 2020 | Serial | 5% | 120.32
|
| $4,395,000 | 2021 | Serial | 5% | 120.042
|
| $4,615,000 | 2022 | Serial | 5% | 120.731
|
| $4,845,000 | 2023 | Serial | 5% | 119.057
|
| $5,085,000 | 2024 | Serial | 5% | 117.865
|
| $5.34 million | 2025 | Serial | 5% | 117.229
|
| $5.61 million | 2026 | Serial | 5% | 116.597
|
| $5.89 million | 2027 | Serial | 5% | 116.059
|
| $6,185,000 | 2028 | Serial | 5% | 115.079
|
| $6.49 million | 2029 | Serial | 5% | 114.549
|
| $6,815,000 | 2030 | Serial | 5% | 114.197
|
| $7,155,000 | 2031 | Serial | 5% | 113.934
|
| $7,515,000 | 2032 | Serial | 5% | 113.585
|
| $24,875,000 | 2035 | Term | 5% | 112.286
|
| $74.37 million | 2042 | Term | 5% | 110.75
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
