Published on 2/18/2015 in the Prospect News Municipals Daily.
New Issue: University System of Maryland prices $95.08 million of refunding bonds
By Sheri Kasprzak
New York, Feb. 18 – The University System of Maryland sold $95,075,000 of series 2015A tax-exempt auxiliary facility and tuition revenue refunding bonds, according to a pricing sheet.
The bonds (Aa1/AA+/AA+) were sold competitively. The issuer did not respond to requests for the winning bidder Wednesday.
The bonds are due 2016 to 2028 with 3% to 5% coupons.
Proceeds will be used to refund the system’s series 2005A and 2008A auxiliary facility and tuition revenue bonds.
| Issuer: | University System of Maryland
|
| Issue: | Series 2015A tax-exempt auxiliary facility and tuition revenue refunding bonds
|
| Amount: | $95,075,000
|
| Type: | Competitive
|
| Ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA+
|
| Fitch: AA+
|
| Pricing date: | Feb. 18
|
| Settlement date: | March 4
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $15,085,000 | 2016 | Serial | 5% | 105.152
|
| $12.91 million | 2017 | Serial | 5% | 109.19
|
| $7.42 million | 2018 | Serial | 5% | 112.699
|
| $3.94 million | 2019 | Serial | 5% | 115.933
|
| $5.93 million | 2020 | Serial | 5% | 118.275
|
| $10.81 million | 2021 | Serial | 5% | 120.507
|
| $4.89 million | 2022 | Serial | 5% | 121.835
|
| $5,085,000 | 2023 | Serial | 5% | 123.357
|
| $5.29 million | 2024 | Serial | 5% | 124.127
|
| $5,505,000 | 2025 | Serial | 5% | 124.767
|
| $5,775,000 | 2026 | Serial | 3.5% | 108.856
|
| $6,065,000 | 2027 | Serial | 3% | 103.794
|
| $6.37 million | 2028 | Serial | 3% | 102.629
|
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