New Issue: University of Akron, Ohio, sells $99.14 million general receipts bonds

By Sheri Kasprzak

New York, April 8 – The University of Akron, Ohio, sold $99,135,000 of series 2015A general receipts bonds, according to a pricing sheet.

The bonds (A1/AA-/AA-) were sold through PNC Capital Markets LLC.

The bonds are due 2016 and 2019 to 2032 with 1% to 5% coupons and 0.28% to 3.62% yields.

Proceeds will be used to advance refund certain maturities of the university’s series 2008A-B bonds.

Issuer:	University of Akron
Issue:	Series 2015A general receipts bonds
Amount:	$99,135,000
Type:	Negotiated
Underwriter:	PNC Capital Markets LLC
Ratings:	Moody’s: A1
	Standard & Poor’s: AA-
	Fitch: AA-
Pricing date:	April 8
Settlement date:	May 7
Amount	Maturity	Type	Coupon	Price	Yield
$1.6 million	2016	Serial	1%	100.467	0.28%
$5.06 million	2019	Serial	4%	109.443	1.34%
$5,265,000	2020	Serial	5%	115.321	1.57%
$5,535,000	2021	Serial	5%	117.291	1.77%
$5.8 million	2022	Serial	5%	118.796	1.97%
$6,105,000	2023	Serial	5%	119.535	2.21%
$6.4 million	2024	Serial	5%	119.937	2.43%
$6,715,000	2025	Serial	5%	120.458	2.59%
$7.06 million	2026	Serial	5%	119.14	2.73%
$7.41 million	2027	Serial	5%	118.023	2.85%
$7.79 million	2028	Serial	5%	116.92	2.97%
$7.37 million	2029	Serial	5%	116.009	3.07%
$8.57 million	2030	Serial	5%	115.377	3.14%
$9,005,000	2031	Serial	5%	114.838	3.20%
$9.45 million	2032	Serial	3.5%	98.505	3.62%

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