By Sheri Kasprzak
New York, March 26 - The Board of Regents of the University of Texas System priced $150 million in series A permanent university fund flexible-rate notes, a university source confirmed to Prospect News Wednesday.
Goldman, Sachs & Co. won the competitive bid with a 1.48161% true interest cost. Eleven bids were made in the sale.
The initial coupon on the bonds is 2.5%, priced at par. The coupon will reset every 270 days, according to a preliminary official statement.
The bonds (Aaa/AAA/AAA) are due May 15, 2030, and proceeds will be used to fund capital improvements.
| Issuer: | Board of Regents of the University of Texas System
|
| Issue: | Series A permanent university fund flexible-rate notes
|
| Amount: | $150 million
|
| Type: | Competitive
|
| True interest cost: | 1.48161%
|
| Coupon: | 2.5% (for first 270 days)
|
| Price: | Par
|
| Underwriter: | Goldman, Sachs & Co.
|
| Ratings: | Moody's: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
| Pricing date: | March 26
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
