Published on 9/4/2013 in the Prospect News Municipals Daily.
New Issue: Texas A&M University offers up $334.36 million of revenue system bonds
By Sheri Kasprzak
New York, Sept. 4 - The Texas A&M University System sold $334,355,000 of series 2013 revenue financing system bonds, according to a pricing sheet.
The bonds (Aaa/AA+/AA+) were sold through lead manager Wells Fargo Securities LLC.
The deal included $239,965,000 of series 2013C taxable bonds and $94.39 million of series 2013D tax-exempt bonds.
The 2013C bonds are due 2014 to 2017 with term bonds due in 2033 and 2043. The serial coupons range from 0.38% to 1.78% all priced at par. The 2033 bonds have a 4.772% coupon and the 2043 bonds have a 4.972% coupon both priced at par.
The 2013D bonds are due 2016 to 2028 with coupons from 1.875% to 5%.
Proceeds will be used to redesign Kyle Field football stadium, as well as to fund capitalized interest.
Issuer: | Texas A&M University System
|
Issue: | Series 2013 revenue financing system bonds
|
Amount: | $334,355,000
|
Type: | Negotiated
|
Underwriters: | Wells Fargo Securities LLC (lead), RBC Capital Markets LLC, Raymond James/Morgan Keegan, Citigroup Global Markets Inc. and Siebert Brandford Shank & Co. LLC (co-managers)
|
Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch AA+
|
Pricing date: | Sept. 4
|
|
$239,965,000 series 2013C taxable bonds
|
Amount Maturity | Type | Coupon Price
|
$1.59 million | 2014 | Serial | 0.38% | 100
|
$1.36 million | 2015 | Serial | 0.618% | 100
|
$5.25 million | 2016 | Serial | 1.058% | 100
|
$1.24 million | 2017 | Serial | 1.78% | 100
|
$59,375,000 | 2033 | Term | 4.772% | 100
|
$171.15 million | 2043 | Term | 4.972% | 100
|
|
$94.39 million series 2013D tax-exempt bonds
|
Amount Maturity | Type | Coupon Price
|
$505,000 | 2016 | Serial | 1.875% | 102.915
|
$4,755,000 | 2017 | Serial | 5% | 113.543
|
$6,255,000 | 2018 | Serial | 5% | 115.04
|
$6,565,000 | 2019 | Serial | 5% | 115.702
|
$6,915,000 | 2020 | Serial | 5% | 115.762
|
$7,265,000 | 2021 | Serial | 5% | 115.151
|
$7.63 million | 2022 | Serial | 5% | 114.846
|
$8,015,000 | 2023 | Serial | 5% | 114.446
|
$8,415,000 | 2024 | Serial | 5% | 112.77
|
$8,835,000 | 2025 | Serial | 5% | 111.21
|
$9.27 million | 2026 | Serial | 5% | 109.675
|
$9.74 million | 2027 | Serial | 5% | 108.499
|
$10,225,000 | 2028 | Serial | 5% | 107.669
|
© 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.