By Cristal Cody
Tupelo, Miss., June 5 – Carnegie Institution of Washington priced $100 million of taxable bonds due July 1, 2049 (Aa2/AA+) at par to yield 175 basis points over Treasuries, according to a market source and an official statement.
BofA Securities, Inc. was the underwriter.
Proceeds will be used to defease all or a portion of $30.58 million outstanding series 2010 revenue bonds and $34,525,000 of series 2010A refunding revenue bonds, to reimburse for terminations of interest rate swap transactions and fund or reimburse the issuer for costs of certain capital needs and other corporate purposes.
Carnegie Institution of Washington, also known as Carnegie Institution for Science, is a scientific research organization.
| Issuer: | Carnegie Institution of Washington
|
| Amount: | $100 million
|
| Maturity: | July 1, 2049
|
| Description: | Series 2020 taxable bonds
|
| Bookrunner: | BofA Securities, Inc.
|
| Coupon: | 3.224%
|
| Price: | Par
|
| Yield: | 3.224%
|
| Spread: | Treasuries plus 175 bps
|
| Trade date: | June 2
|
| Settlement date: | June 9
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA+
|
| Distribution: | Section 3(a)(4) exempt
|
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