By Aaron Hochman-Zimmerman
New York, May 12 - The North Carolina Capital Facilities Finance Agency priced a $110 million series 2009 education facilities revenue bond at a true interest cost of 4.770108% (Aa3/AA/), according to agency spokeswoman Heather Franco.
The bonds were priced on behalf of Wake Forest University.
The $38.94 million of serial bonds carry maturities from 2025 to 2031 plus one further $10.49 million bond with a serial maturity in 2039.
There is a $60.57 million term bond due from 2032 to 2038.
Wachovia Securities Inc. and BB&T Capital Markets Corp. acted as underwriters for the negotiated deal.
Proceeds will be used to refinance the Wachovia Bank line of credit and renovate the university's football stadium.
The North Carolina Capital Facilities Finance Agency is located in Raleigh, N.C.
Issuer: North Carolina Capital Facilities Finance Agency
Issue: Series 2009 revenue education facilities bonds
| Amount: | $110 million
|
| Maturities: | 2025 to 2039
|
| True interest cost: | 4.770108%
|
| Underwriter: | Wachovia Securities Inc. and BB&T Capital Markets Corp.
|
| Pricing date: | May 12
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
|
|
| Issue: | Serial bonds
|
| Amount: | $38.94 million
|
| Maturities: | 2025 to 2031
|
| Average coupon: | 4.868%
|
|
|
|
|
| Issue: | Serial bond
|
| Amount: | $10.49 million
|
| Maturity: | 2039
|
| Coupon: | 4.500%
|
|
|
| Maturity | Type | Amount | Coupon | Yield | Price
|
| Jan. 1, 2025 | Serial | $1.410 million | 4.00% | 4.11% | 98.739
|
| Jan. 1, 2026 | Serial | $5.530 million | 5.00% | 4.17% | 106.502
|
| Jan. 1, 2027 | Serial | $5.795 million | 4.25% | 4.33% | 99.018
|
| Jan. 1, 2028 | Serial | $6.070 million | 5.00% | 4.34% | 105.129
|
| Jan. 1, 2029 | Serial | $6.380 million | 5.00% | 4.42% | 104.490
|
| Jan. 1, 2030 | Serial | $6.705 million | 5.00% | 4.50% | 103.856
|
| Jan. 1, 2031 | Serial | $7.050 million | 5.00% | 4.55% | 103.462
|
| Jan. 1, 2039 | Serial | $10.490 million | 4.50% | 4.68% | 97.128
|
|
|
| Issue: | Term bond
|
| Amount: | $60.57 million
|
| Maturities: | 2032 to 2038
|
| Coupon: | 5.000%
|
| Price: | 102.523
|
| Yield: | 4.67%
|
|
|
| Maturity | Amount
|
| Jan. 1, 2032 | $7.410 million
|
| Jan. 1, 2033 | $7.790 million
|
| Jan. 1, 2034 | $8.190 million
|
| Jan. 1, 2035 | $8.610 million
|
| Jan. 1, 2036 | $9.050 million
|
| Jan. 1, 2037 | $9.515 million
|
| Jan. 1, 2038 | $10.005 million
|
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