Published on 8/16/2012 in the Prospect News Municipals Daily.
New Issue: Northeastern University, Mass., prices $54.39 million of revenue bonds
By Sheri Kasprzak
New York, Aug. 16 - The Massachusetts Development Finance Agency brought $54,385,000 of series 2012 revenue bonds, according to a pricing sheet.
The bonds (A2) were sold through Barclays and Morgan Stanley & Co. LLC.
The bonds are due 2025 to 2032 with a term bond due in 2035. The serial coupons range from 4% to 5%. The 2035 bonds have a 4% coupon priced at 100.244.
Proceeds will be used to pay the outstanding principal on series 2008S revenue bonds due Oct. 1, 2012.
| Issuer: | Massachusetts Development Finance Agency/Northeastern University
|
| Issue: | Series 2012 revenue bonds
|
| Amount: | $54,385,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays and Morgan Stanley & Co. LLC
|
| Ratings: | Moody's: A2
|
| Pricing date: | Aug. 16
|
| Settlement date: | Sept. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2.2 million | 2025 | Serial | 5% | 118.192
|
| $2.1 million | 2026 | Serial | 5% | 117.525
|
| $2.2 million | 2027 | Serial | 5% | 116.862
|
| $2.25 million | 2028 | Serial | 5% | 116.203
|
| $9.4 million | 2029 | Serial | 5% | 115.456
|
| $1.8 million | 2030 | Serial | 5% | 114.9
|
| $4.55 million | 2031 | Serial | 5% | 114.346
|
| $4.65 million | 2032 | Serial | 4% | 101.739
|
| $25,235,000 | 2035 | Term | 4% | 100.244
|
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