By Cristal Cody
Eureka Springs, Ark., June 28 – The State of Connecticut Health and Educational Facilities Authority sold $499.32 million of bonds (Aaa/AAA) in two parts, according to a market source and a new issue statement.
The deal included $399.32 million of series 2016A Yale University revenue bonds due July 1, 2042 and a $100 million remarketing of series 2013A Yale University revenue bonds due July 1, 2042.
The bonds have mandatory tender dates.
Barclays and J.P. Morgan Securities LLC led the negotiated sale.
Proceeds will be used to current refund the authority’s outstanding series Z-1 Yale University revenue bonds and series X-1 Yale University revenue bonds.
Issuer: | State of Connecticut Health and Educational Facilities Authority
|
Issue: | Revenue bonds
|
Amount: | $499.32 million
|
Type: | Negotiated
|
Bookrunners: | Barclays and J.P. Morgan Securities LLC
|
Ratings: | Moody’s: Aaa
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| S&P: AAA
|
Pricing date: | June 21
|
Settlement date: | July 21
|
|
Series 2016A bonds
|
Mandatory tender date | Type | Amount | Price | Coupon | Yield
|
July 1, 2019 | Term | $150 million | Par | 1% | 1%
|
July 1, 2026 | Term | $249.32 million | 100.271 | 2% | 1.97%
|
|
Series 2013A bonds
|
Mandatory tender date | Type | Amount | Price | Coupon | Yield
|
July 1, 2019 | Term | $100 million | Par | 1% | 1%
|
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