By Aaron Hochman-Zimmerman
New York, June 2 - University of Houston Board of Regents, Texas, priced $71.175 million in series 2009A consolidated revenue and refunding bonds at a true interest cost of 4.3541% (Aa3/AA-/), according to Drew Masterson, a First Southwest Co. managing director.
Wachovia Securities LLC won the auction over seven other bidders. First Southwest acted as financial adviser to the deal.
The bonds carry maturities from 2010 to 2034.
Proceeds will be used to construct, acquire, improve, purchase or enlarge facilities in the university system.
The University of Houston Board of Regents is located in Houston.
| Issuer: | University of Houston Board of Regents
|
| Issue: | Series 2009A consolidated revenue and refunding bonds
|
| Amount: | $71.175 million
|
| Maturities: | 2010 to 2034
|
| True interest cost: | 4.3541%
|
| Underwriter: | Wachovia Securities LLC
|
| Type: | Competitive
|
| Pricing date: | June 2
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
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