By Sheri Kasprzak
New York, Oct. 22 - The Vermont Educational and Health Buildings Financing Agency priced $95.035 million in series 2010 revenue refunding bonds on Thursday for Middlebury College, according to a term sheet.
The bonds (Aa2/AA/) were sold through Goldman Sachs & Co.
The bonds are due 2040 and have a 5% coupon priced at 114.98.
Proceeds will be used to refund the college's series 2008 variable-rate demand obligations and terminate an interest rate swap agreement related to those obligations.
Issuer: | Vermont Educational and Health Buildings Financing Agency/Middlebury College
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Issue: | Series 2010 revenue refunding bonds
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Amount: | $95.035 million
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Maturity: | 2040
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Coupon: | 5%
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Price: | 114.98
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Type: | Negotiated
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Underwriter: | Goldman Sachs & Co. (lead)
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Ratings: | Moody's: Aa2
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| Standard & Poor's: AA
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Pricing date: | Oct. 21
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Settlement date: | Nov. 1
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