By Sheri Kasprzak
New York, Feb. 6 - The Waco Education Finance Corp. of Texas sold $120 million of series 2012 revenue bonds for Baylor University, according to a pricing sheet.
The bonds (/AA-/AA-) were sold through Barclays Capital Inc.
The bonds are due March 1, 2043 and have a split maturity with a 4.125% coupon priced at par and a 5% coupon priced at 111.871.
Proceeds will be used to finance and refinance the cost of capital improvement projects at the university, as well as to refinance a portion of the university's $15 million of outstanding series A commercial paper notes.
| Issuer: | Waco Education Finance Corp./Baylor University
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $120 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc.
|
| Ratings: | Standard & Poor's: AA-
|
| Fitch: AA-
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 22
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $40 million | March 1, 2043 | Term | 4.125% | 100
|
| $80 million | March 1, 2043 | Term | 5% | 111.871
|
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