Published on 3/20/2014 in the Prospect News Municipals Daily.
New Issue: Westchester County Development, N.Y., sells $85.67 million Pace bonds
By Sheri Kasprzak
New York, March 20 - The Westchester County Local Development Corp. of New York priced $85,665,000 of series 2014 revenue bonds for Pace University, said a pricing sheet.
The bonds (/BB+/) were sold through BofA Merrill Lynch.
The bonds are due 2034 and 2042. The 2034 bonds have a 5% coupon priced at 97.4, and the 2042 bonds have a 5.5% coupon priced at par.
Proceeds will be used to finance the construction, acquisition and equipment of academic, business, residential, athletic and research facilities at the university's Pleasantville campus.
Issuer: | Westchester County Local Development Corp./Pace University
|
Issue: | Series 2014 revenue bonds
|
Amount: | $85,665,000
|
Type: | Negotiated
|
Underwriter: | BofA Merrill Lynch
|
Rating: | Standard & Poor's: BB+
|
Pricing date: | March 20
|
Settlement date: | April 3
|
|
Amount | Maturity | Type | Coupon | Price
|
$22,815,000 | 2034 | Term | 5% | 97.4
|
$62.85 million | 2042 | Term | 5.5% | 100
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.