Published on 7/30/2012 in the Prospect News Municipals Daily.
New Issue: Wake Forest University, N.C., prices $125 million of taxable bonds
By Sheri Kasprzak
New York, July 30 - Wake Forest University of North Carolina sold $125 million of series 2012 taxable bonds, according to a pricing sheet.
The bonds (Aa3/AA/) were sold through Wells Fargo Securities LLC and BB&T Capital Markets LLC.
The bonds are due 2024 to 2027 with term bonds due in 2032 and 2042. The serial coupons range from 2.604% to 3.104%, all priced at par. The 2032 bonds have a 3.451% coupon priced at par and the 2042 bonds have a 3.701% coupon priced at par.
Proceeds will be used finance all or a portion of the cost of renovations and improvements to the university.
| Issuer: | Wake Forest University
|
| Issue: | Series 2012 taxable bonds
|
| Amount: | $125 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC and BB&T Capital Markets LLC (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 2
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4,915,000 | 2024 | Serial | 2.604% | 100
|
| $5.06 million | 2025 | Serial | 2.754% | 100
|
| $5,145,000 | 2026 | Serial | 2.954% | 100
|
| $5,305,000 | 2027 | Serial | 3.104% | 100
|
| $29.09 million | 2032 | Term | 3.451% | 100
|
| $75,485,000 | 2042 | Term | 3.701% | 100
|
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