By Cristal Cody
Tupelo, Miss., April 30 - The University of Pittsburgh of the Commonwealth System of Higher Education priced $118 million of series 2010 Pitt Asset Notes-Tax-Exempt Higher Education notes, according to an official statement.
The Panthers (MIG1/SP-1+/) priced at 101.628 with a 2% coupon to yield 0.47%.
The notes are due May 31, 2011.
Barclays Capital Inc. managed the negotiated sale.
Proceeds will be used to finance capital expenditures and refund $78 million of the university's outstanding series 2007 Panthers.
| Issuer: | University of Pittsburgh of the Commonwealth System of Higher Education
|
| Issue: | Series 2010 Pitt Asset Notes-Tax-Exempt Higher Education
|
| Amount: | $118 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc.
|
| Maturities: | May 31, 2011
|
| Coupon: | 2%
|
| Yield: | 0.47%
|
| Price: | 101.628
|
| Ratings: | Moody's: MIG1
|
| Standard & Poor's: SP-1+
|
| Pricing date: | April 29
|
| Settlement date: | May 6
|
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