Published on 2/6/2012 in the Prospect News Municipals Daily.
New Issue: University of Texas prices $195.85 million revenue financing system refunding bonds
By Sheri Kasprzak
New York, Feb. 6 - The Board of Regents of the University of Texas System sold $195.85 million of series 2012A revenue financing system refunding bonds, according to a pricing sheet.
The bonds (Aaa/AAA/AAA) were sold on a negotiated basis with Barclays Capital Inc. and RBC Capital Markets LLC as the senior managers. The co-managers were Estrada Hinojosa & Co. Inc., Jefferies & Co., Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC.
The bonds are due 2013 to 2027 with coupons from 2% to 5%.
Proceeds will be used to refinance a portion of the university's commercial paper notes and refund other debt.
| Issuer: | Board of Regents of the University of Texas System
|
| Issue: | Series 2012A revenue financing system refunding bonds
|
| Amount: | $195.85 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. and RBC Capital Markets LLC (lead), Estrada Hinojosa & Co. Inc., Jefferies & Co., Morgan Keegan & Co. Inc., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | Feb. 2
|
| Settlement date: | March 1
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,585,000 | 2013 | Serial | 3% | 104.112
|
| $2 million | 2014 | Serial | 2% | 104.105
|
| $11.44 million | 2014 | Serial | 4% | 108.993
|
| $8,415,000 | 2015 | Serial | 5% | 115.285
|
| $2 million | 2016 | Serial | 2% | 105.919
|
| $6.9 million | 2016 | Serial | 5% | 119.072
|
| $8,405,000 | 2017 | Serial | 5% | 122.077
|
| $2 million | 2018 | Serial | 2% | 105.529
|
| $8,505,000 | 2018 | Serial | 5% | 124.168
|
| $10,955,000 | 2019 | Serial | 5% | 125.885
|
| $8.7 million | 2020 | Serial | 4% | 119.432
|
| $2.8 million | 2020 | Serial | 5% | 127.332
|
| $9,235,000 | 2021 | Serial | 4% | 119.914
|
| $3 million | 2021 | Serial | 5% | 128.61
|
| $1.15 million | 2022 | Serial | 3% | 110.786
|
| $33,455,000 | 2022 | Serial | 5% | 129.709
|
| $1.05 million | 2023 | Serial | 3% | 110.407
|
| $25.35 million | 2023 | Serial | 5% | 130.816
|
| $3.96 million | 2024 | Serial | 4% | 116.207
|
| $14,985,000 | 2025 | Serial | 5% | 126.237
|
| $15,735,000 | 2026 | Serial | 5% | 125.012
|
| $13,225,000 | 2027 | Serial | 5% | 123.901
|
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