By Sheri Kasprzak
New York, Sept. 17 - Troy University of Alabama priced $62.905 million in series 2009 facilities revenue bonds on Thursday, according to a pricing sheet.
The sale included $15.265 million in series 2009A revenue bonds and $47.64 million in series 2009B Build America Bonds.
The 2009A bonds are due 2010 to 2024 with a term bond due 2028. The serials have coupon from 2% to 5%. The 2028 bonds have a 4.5% coupon, priced at 99.363. The 2009B bonds are due 2011 to 2019 with a term bond due 2029. The serials have coupons from 1.5% to 5.05%, all priced at par. The 2029 bonds have a 6.402% coupon, priced at par.
Wells Fargo Securities was the senior manager. The co-managers were Morgan Keegan & Co. Inc., Raymond James & Associates Inc. and Merchant Capital LLC.
Proceeds will be used to fund improvements to the university's campus over the next two years.
| Issuer: | Troy University
|
| Issue: | Series 2009 facilities revenue bonds
|
| Amount: | $62.905 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities (lead), Morgan Keegan & Co. Inc., Raymond James & Associates Inc., Merchant Capital LLC
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 29
|
|
|
| Series 2009A
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 2% | 100.7
|
| 2011 | Serial | 3% | 102.76
|
| 2012 | Serial | 4% | 105.837
|
| 2013 | Serial | 3% | 102.519
|
| 2014 | Serial | 3% | 101.464
|
| 2015 | Serial | 3% | 100.331
|
| 2016 | Serial | 3.5% | 102.015
|
| 2017 | Serial | 4% | 103.994
|
| 2018 | Serial | 5% | 110.522
|
| 2019 | Serial | 5% | 110.063
|
| 2020 | Serial | 3.75% | 98.569
|
| 2021 | Serial | 4% | 99.712
|
| 2022 | Serial | 4% | 98.992
|
| 2023 | Serial | 4.125% | 99.31
|
| 2024 | Serial | 4.25% | 100
|
| 2028 | Term | 4.5% | 99.363
|
|
|
| Series 2009B
|
| Maturity | Type | Coupon | Price
|
| 2010 | Serial | 1.5% | Par
|
| 2011 | Serial | 2.3% | Par
|
| 2012 | Serial | 2.9% | Par
|
| 2013 | Serial | 3.3% | Par
|
| 2014 | Serial | 3.8% | Par
|
| 2015 | Serial | 4.2% | Par
|
| 2016 | Serial | 4.55% | Par
|
| 2017 | Serial | 4.75% | Par
|
| 2018 | Serial | 4.9% | Par
|
| 2019 | Serial | 5.05% | Par
|
| 2029 | Term | 6.402% | Par
|
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