By Sheri Kasprzak
New York, June 23 - The Board of Regents of the University of Texas System brought $516.245 million of series 2010D revenue financing system taxable bonds (Aaa/AAA/AAA), said a term sheet.
The bonds were sold through Morgan Stanley & Co. Inc. and Barclays Capital Inc. The co-managers were Cabrera Capital Markets LLC; Estrada Hinojosa & Co. Inc.; Fidelity Capital Markets Inc.; Goldman, Sachs & Co.; Loop Capital Markets LLC; Morgan Keegan & Co. Inc.; Southwest Securities Inc.; and Stone & Youngberg.
The bonds are due 2011 to 2021 with term bonds due 2026, 2030 and 2042. The coupons range from 0.63% to 4.107%, all priced at par. The 2026 bonds have a 4.837% coupon, priced at par. The 2030 bonds have a 5.094% coupon, priced at par, and the 2042 bonds have a 5.134% coupon, also priced at par.
Proceeds will be used to refund a portion of the university's tax-exempt commercial paper notes as well as to finance campus improvements.
| Issuer: | Board of Regents of the University of Texas System
|
| Issue: | Series 2010D revenue financing system taxable bonds
|
| Amount: | $516.245 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and Barclays Capital Inc. (lead); Cabrera Capital Markets LLC; Estrada Hinojosa & Co. Inc.; Fidelity Capital Markets Inc.; Goldman, Sachs & Co.; Loop Capital Markets LLC; Morgan Keegan & Co. Inc.; Southwest Securities Inc.; and Stone & Youngberg (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAAPricing date: | June 23
|
|
|
| Maturity | Type | Coupon | Price
|
| 2011 | Serial | 0.63% | 100
|
| 2012 | Serial | 1.085% | 100
|
| 2013 | Serial | 1.676% | 100
|
| 2014 | Serial | 2.326% | 100
|
| 2015 | Serial | 2.616% | 100
|
| 2016 | Serial | 3.076% | 100
|
| 2017 | Serial | 3.319% | 100
|
| 2018 | Serial | 3.807% | 100
|
| 2019 | Serial | 3.907% | 100
|
| 2020 | Serial | 3.987% | 100
|
| 2021 | Serial | 4.107% | 100
|
| 2026 | Term | 4.837% | 100
|
| 2030 | Term | 5.094% | 100
|
| 2042 | Term | 5.134% | 100
|
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