New Issue: University of Delaware sells $50.12 million revenue bonds

By Sheri Kasprzak

New York, April 22 – The University of Delaware priced $50,115,000 of series 2015 revenue bonds, according to a pricing sheet.

The bonds (Aa1/AA+/) were sold through lead manager Morgan Stanley & Co. LLC.

The bonds are due 2017 to 2035 with term bonds due in 2040 and 2045. The serial coupons range from 4% to 5%. The 2040 bonds have a 5% coupon priced at 115.292, and the 2045 bonds have a 5% coupon priced at 114.833.

Proceeds will be used to acquire, construct, equip and install facilities for the university.

Issuer:	University of Delaware
Issue:	Series 2015 revenue bonds
Amount:	$50,115,000
Type:	Negotiated
Underwriter:	Morgan Stanley & Co. LLC
Ratings:	Moody’s: Aa1
	Standard & Poor’s: AA+
Pricing date:	April 22
Settlement date:	May 28
Amount	Maturity	Type	Coupon	Price
$790,000	2017	Serial	4%	107.544
$830,000	2018	Serial	4%	109.579
$870,000	2019	Serial	5%	115.58
$915,000	2020	Serial	5%	117.998
$960,000	2021	Serial	5%	119.937
$1.01 million	2022	Serial	5%	121.526
$1,065,000	2023	Serial	5%	122.891
$1,115,000	2024	Serial	5%	124.099
$1,175,000	2025	Serial	5%	124.136
$1,235,000	2026	Serial	5%	122.64
$1.3 million	2027	Serial	5%	121.361
$1,365,000	2028	Serial	5%	120.291
$1,435,000	2029	Serial	5%	119.616
$1.51 million	2030	Serial	5%	118.66
$1,585,000	2031	Serial	5%	118.091
$1,665,000	2032	Serial	5%	117.524
$1,755,000	2033	Serial	5%	117.149
$1.84 million	2034	Serial	4%	105.102
$1,935,000	2035	Serial	4%	104.844
$11,275,000	2040	Term	5%	115.292
$14,485,000	2045	Term	5%	114.833

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