FSU Financial Assistance, Fla., arranges $79.23 million bond offering

By Sheri Kasprzak

New York, July 2 – FSU Financial Assistance Inc. of Florida State University if set to price $79,225,000 of series 2015 educational facilities improvement revenue bonds on Tuesday, according to a preliminary official statement.

The deal includes $58.86 million of series 2015A bonds, $9 million of series 2015B taxable bonds and $11,365,000 of series 2015C bonds.

The bonds (A1//A) will be sold on a negotiated basis with BofA Merrill Lynch and J.P. Morgan Securities LLC as the lead managers.

The 2015A bonds are due 2028 to 2035 with term bonds due in 2040 and 2045. The 2015B bonds are due 2017 to 2028 and the 2015C bonds are due 2017 to 2026.

Proceeds will be used to finance improvements at the south end zone of the university’s football stadium, including the construction of premium club seats and conference suites.

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