New Issue: Northwestern University, Ill., brings $586 million of fixed-rate bonds

By Sheri Kasprzak

New York, Oct. 23 - The Northwestern University of Illinois priced $586 million of series 2013 taxable fixed-rate bonds, according to an official statement. The offering was upsized from $585 million.

The bonds (Aaa/AAA/AAA) were sold through lead managers Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.

The bonds are due 2014 to 2021 with a term bond due in 2044. The serial coupons range from 0.237% to 2.951% all priced at par. The 2044 bonds have a 4.643% coupon priced at par.

Proceeds will be used to finance capital projects on the university's Evanston, Ill., and Chicago campuses, as well as to redeem bonds scheduled for redemption on Dec. 1.

Issuer:	Northwestern University
Issue:	Series 2013 taxable fixed-rate bonds
Amount:	$586 million
Type:	Negotiated
Underwriters:	Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (lead), BofA Merrill Lynch and Loop Capital Markets LLC (co-managers)
Ratings:	Moody's: Aaa
Standard & Poor's: AAA
	Fitch: AAA
Pricing date:	Oct. 21
Settlement date:	Oct. 29
Amount	Maturity	Type	Coupon	Price
$3,805,000	2014	Serial	0.237%	100
$4,535,000	2015	Serial	0.491%	100
$4,715,000	2016	Serial	0.917%	100
$4.77 million	2017	Serial	1.47%	100
$4,935,000	2018	Serial	1.85%	100
$5,085,000	2019	Serial	2.333%	100
$5.45 million	2020	Serial	2.603%	100
$4.79 million	2021	Serial	2.951%	100
$547,915,000	2044	Term	4.643%	100

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