By Aaron Hochman-Zimmerman
New York, May 21 - The University of Pittsburgh priced $400 million series 2009A tax-exempt fixed-rate bonds on Tuesday on behalf of the University of Pittsburgh Medical Center, according to a market source.
Yields ranged from 2.79% to 5.75% at the final maturity.
The bonds carry serial maturities from 2011 to 2024 and term bonds due in 2029, 2034 and 2039.
RBC Capital Markets Corp., BNY Mellon Capital Markets LLC, PNC Capital Markets and J.P. Morgan Securities Inc. acted as underwriters for the negotiated bonds.
Proceeds from the sale will be used to fund capital projects at the medical center and affiliated hospitals.
The University of Pittsburgh is located in Pittsburgh.
| Issuer: | University of Pittsburgh/University of Pittsburgh Medical Center
|
| Issue: | Series 2009A tax-exempt fixed-rate bonds
|
| Amount: | $400 million
|
| Maturities: | Serial bonds 2011 to 2024; term bonds due 2029, 2034, 2039
|
| Type: | Negotiated
|
| Yield range: | 2.79% to 5.75%
|
| Underwriters: | RBC Capital Markets Corp., BNY Mellon Capital Markets LLC, PNC Capital Markets, J.P. Morgan Securities Inc.
|
| Pricing date: | May 19
|
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