North Carolina Agricultural and Tech State plans $92.23 million bonds

By Sheri Kasprzak

New York, Nov. 5 – The North Carolina Agricultural and Technical State University is set to price $92.23 million of series 2015 general revenue bonds, according to a preliminary official statement.

The deal includes $75,165,000 of series 2015A bonds and $17,065,000 of series 2015B taxable bonds.

The bonds (A1//A+) will be sold on a negotiated basis with Wells Fargo Securities LLC as the lead manager. The co-managers are Blaylock Beal Van LLC, PNC Capital Markets LLC, SunTrust Robinson Humphrey.

The 2015A bonds are due 2017 to 2035 with term bonds due in 2040 and 2045. The 2015B bonds are due 2016 to 2024.

Proceeds will be used to refinance two general revenue bond anticipation notes initially issued to finance the construction, equipment and improvement of a student center, as well as to finance the completion of the project.

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