Published on 5/15/2013 in the Prospect News Municipals Daily.
New Issue: Williams College, Mass., brings to market $126.23 million revenue bonds
By Sheri Kasprzak
New York, May 15 - The Massachusetts Development Finance Agency priced $126.23 million of series 2013P revenue bonds for Williams College, according to a pricing sheet.
The bonds (Aa1/AA+/) were sold through senior manager J.P. Morgan Securities LLC.
The bonds are due 2014 to 2034 with term bonds due in 2038 and 2043. The serial coupons range from 2% to 5%. The 2038 bonds have a 5% coupon priced at 116.44, and the 2043 bonds have a 5% coupon priced at 115.409.
Proceeds will be used to finance capital projects for the college, as well as to refund the agency's series H revenue bonds.
| Issuer: | Massachusetts Development Finance Agency/Williams College
|
| Issue: | Series 2013P revenue bonds
|
| Amount: | $126.23 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC (lead), Goldman, Sachs & Co. and Morgan Stanley & Co. LLC (co-managers)
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Pricing date: | May 14
|
| Settlement date: | May 30
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,755,000 | 2014 | Serial | 2% | 101.951
|
| $1.8 million | 2015 | Serial | 3% | 105.567
|
| $1,855,000 | 2016 | Serial | 5% | 113.796
|
| $1.91 million | 2017 | Serial | 5% | 117.423
|
| $795,000 | 2018 | Serial | 5% | 120.503
|
| $1,755,000 | 2019 | Serial | 4% | 116.961
|
| $1 million | 2019 | Serial | 5% | 122.83
|
| $3,145,000 | 2020 | Serial | 4% | 117.775
|
| $1 million | 2020 | Serial | 5% | 124.509
|
| $4,335,000 | 2021 | Serial | 4% | 118.134
|
| $4.53 million | 2022 | Serial | 5% | 126.518
|
| $4,755,000 | 2023 | Serial | 5% | 127.381
|
| $5.01 million | 2024 | Serial | 5% | 125.923
|
| $5.26 million | 2025 | Serial | 5% | 124.689
|
| $5.52 million | 2026 | Serial | 5% | 123.57
|
| $4.05 million | 2027 | Serial | 5% | 122.563
|
| $4,265,000 | 2028 | Serial | 5% | 121.665
|
| $4.46 million | 2029 | Serial | 5% | 120.874
|
| $3.9 million | 2030 | Serial | 5% | 120.284
|
| $4.06 million | 2031 | Serial | 4% | 108.645
|
| $1,485,000 | 2032 | Serial | 4% | 108.192
|
| $1.54 million | 2033 | Serial | 4% | 107.742
|
| $4,545,000 | 2034 | Serial | 4% | 107.204
|
| $14.22 million | 2038 | Term | 5% | 116.44
|
| $39.28 million | 2043 | Term | 5% | 115.409
|
© 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.
