Washington University, Mo., preps $197.08 million revenue bonds sale

By Sheri Kasprzak

New York, June 13 - The Health and Educational Facilities Authority of the State of Missouri is set to offer $197.08 million of series 2011 educational facilities revenue bonds for Washington University, said a preliminary official statement.

The bonds (Aaa/AAA) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. as the senior managers. The co-managers are Bank of America Merrill Lynch, Edward Jones & Co. and Wells Fargo Securities LLC.

The offering includes $23.06 million of series 2011A bonds, $96.595 million of series 2011B bonds and $77.425 million of series 2011C bonds.

The 2011A bonds are due in 2041, and the 2011B bonds are due 2030 and 2037. The 2011C bonds are due 2012 to 2026 with a term bond due in 2037.

Proceeds will be used to renovate the educational and health facilities at Washington University, as well as to refund the university's series 1998A and 2001B bonds.

The university is located in St. Louis. The authority, based in Chesterfield, Mo., provides funding for state educational and health care facilities.

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