Philadelphia IDA prepares $273.13 million of Temple University bonds

By Sheri Kasprzak

New York, June 16 – The Philadelphia Industrial Development Authority is set to price $273.13 million of series 2015 and 2016 revenue bonds for Temple University, according to a preliminary official statement.

The deal includes $141,225,000 of first series of 2015 bonds and $131,905,000 of first series of 2016 bonds.

The bonds (Aa3/A+/) will be sold through senior manager Citigroup Global Markets Inc. The co-managers are BofA Merrill Lynch, Janney Montgomery Scott LLC and RBC Capital Markets LLC.

The 2015 bonds are due 2016 to 2035 with term bonds due in 2040 and 2045. The 2016 bonds are due 2016 to 2029.

Proceeds will be used to finance capital projects for the university, as well as to refund the university’s series 2006 bonds.

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