By Sheri Kasprzak
New York, Sept. 3 - University of Oklahoma priced $71.075 million in series 2008 general revenue bonds (/AA/AA) for the O.U. Cancer Institute, according to an official statement.
The sale includes $44.925 million in series 2008A tax-exempt bonds and $26.15 million in series 2008B taxable bonds.
The 2008A bonds are due from 2024 to 2028 with term bonds due 2033, 2036 and 2036. The serials have coupons from 4.45% to 4.6% and yields from 4.49% to 4.73%. The 2033 bonds have a 4.75% coupon to yield 4.9%; the 2036 bonds have a 5% coupon to yield 5%; and the 2036 bonds have a 4.875% coupon to yield 5%.
The 2008B bonds are due 2009 to 2013 with term bonds due 2018 and 2024. The serials have 3.28% to 4.41% coupons, all priced at par. The 2018 bonds have a 6.16% coupon, priced at par, and the 2024 bonds have a 6.634% coupon, also priced at par.
Citigroup Global Markets was the lead manager for the negotiated deal with BOSC as the co-manager.
Proceeds will be used for the construction of the university's O.U. Cancer Institute.
| Issuer: | University of Oklahoma
|
| Issue: | Series 2008 general revenue bonds
|
| Amount: | $71.075 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets (lead); BOSC (co-manager)
|
| Ratings: | Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | Aug. 28
|
| Settlement date: | Oct. 9
|
|
|
| Series 2008A
|
| Maturity | Type | Coupon | Yield
|
| 2024 | Serial | 4.45% | 4.49%
|
| 2025 | Serial | 4.5% | 4.57%
|
| 2026 | Serial | 4.6% | 4.63%
|
| 2027 | Serial | 4.5% | 4.68%
|
| 2028 | Serial | 4.5% | 4.73%
|
| 2033 | Term | 4.75% | 4.90%
|
| 2036 | Term | 5% | 5.00%
|
| 2036 | Term | 4.875% | 5.00%
|
|
|
| Series 2008B
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3.28% | 3.28%
|
| 2010 | Serial | 3.53% | 3.53%
|
| 2011 | Serial | 4.01% | 4.01%
|
| 2012 | Serial | 4.26% | 4.26%
|
| 2013 | Serial | 4.41% | 4.41%
|
| 2018 | Term | 6.16% | 6.16%
|
| 2024 | Term | 6.634% | 6.634%
|
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