Published on 4/29/2015 in the Prospect News Municipals Daily.
New Issue: New Hampshire Health brings $115.64 million university system bonds
By Sheri Kasprzak
New York, April 29 – The New Hampshire Health and Educational Facilities Authority sold $115.64 million of series 2015 revenue bonds for the University System of New Hampshire, according to a pricing sheet.
The bonds (Aa3/A+/) were sold through J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
The bonds are due 2016 to 2036 with term bonds due in 2040 and 2045. The serial coupons range from 3% to 5%. The 2040 bonds have a 5% coupon priced at 112.246, and the 2045 bonds have a 5% coupon priced at 111.794.
Proceeds will be used to construct, complete and equip the ALLWell Fieldhouse project at Plymouth State University; to construct and equip a 300-bed residence hall at Keene State College; expend the Holloway Commons at the University of New Hampshire; and to refund existing debt.
| Issuer: | New Hampshire Health and Educational Facilities Authority/University System of New Hampshire
|
| Issue: | Series 2015 revenue bonds
|
| Amount: | $115.64 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead)
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: A+
|
| Pricing date: | April 28
|
| Settlement date: | May 13
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.08 million | 2016 | Serial | 3% | 102.995
|
| $350,000 | 2017 | Serial | 3% | 104.839
|
| $2.25 million | 2017 | Serial | 5% | 109.066
|
| $970,000 | 2018 | Serial | 4% | 108.842
|
| $1,735,000 | 2018 | Serial | 5% | 111.912
|
| $2.8 million | 2019 | Serial | 5% | 114.537
|
| $430,000 | 2020 | Serial | 3% | 106.77
|
| $2,495,000 | 2020 | Serial | 5% | 116.583
|
| $850,000 | 2021 | Serial | 4% | 112.534
|
| $2,205,000 | 2021 | Serial | 5% | 118.31
|
| $3.22 million | 2022 | Serial | 5% | 119.555
|
| $2.01 million | 2023 | Serial | 4% | 112.859
|
| $1.32 million | 2023 | Serial | 5% | 120.25
|
| $3.5 million | 2024 | Serial | 5% | 120.9334
|
| $3.67 million | 2025 | Serial | 5% | 121.455
|
| $3,825,000 | 2026 | Serial | 5% | 119.777
|
| $4.03 million | 2027 | Serial | 5% | 118.707
|
| $4.21 million | 2028 | Serial | 5% | 117.552
|
| $4.4 million | 2029 | Serial | 5% | 116.6
|
| $4,615,000 | 2030 | Serial | 5% | 115.75
|
| $4.84 million | 2031 | Serial | 5% | 115.002
|
| $5,065,000 | 2032 | Serial | 5% | 114.167
|
| $1,615,000 | 2033 | Serial | 3.625% | 97.334
|
| $3.68 million | 2033 | Serial | 5% | 113.798
|
| $985,000 | 2035 | Serial | 4% | 101.665
|
| $10,375,000 | 2035 | Serial | 5% | 113.156
|
| $6,075,000 | 2036 | Serial | 5% | 112.882
|
| $12,875,000 | 2040 | Term | 5% | 112.246
|
| $20,165,000 | 2045 | Term | 5% | 111.794
|
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