Published on 1/22/2016 in the Prospect News Municipals Daily.
New Issue: Vermont Educational brings $176.56 million U of Vermont Medical bonds
By Sheri Kasprzak
New York, Jan. 22 – The Vermont Educational and Health Buildings Finance Agency sold $176.56 million of series 2016A revenue bonds for the University of Vermont Medical Center, said a term sheet. The deal was upsized from $80 million.
The bonds (A3/A-/A-) were sold through senior manager Citigroup Global Markets Inc.
The bonds are due 2016 to 2036 with 3% to 5% coupons and yields from 0.60% to 3.64%.
Proceeds will be used to refund the agency’s series 2004B variable-rate bonds and series 2007A revenue bonds.
Issuer: | Vermont Educational and Health Buildings Finance Agency/University of Vermont Medical Center
|
Issue: | Series 2016A revenue bonds
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Amount: | $176.56 million
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Type: | Negotiated
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Underwriter: | Citigroup Global Markets Inc. (lead)
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Ratings: | Moody’s: A3
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| Standard & Poor’s: A-
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| Fitch: A-
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Pricing date: | Jan. 22
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Settlement date: | Feb. 3
|
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$3.84 million | 2016 | Serial | 3% | 101.978 | 0.60%
|
$3,845,000 | 2017 | Serial | 3% | 103.76 | 0.92%
|
$4.28 million | 2018 | Serial | 3% | 105.103 | 1.16%
|
$3,765,000 | 2019 | Serial | 4% | 109.773 | 1.37%
|
$4.54 million | 2020 | Serial | 4% | 111.352 | 1.55%
|
$4.27 million | 2021 | Serial | 5% | 117.868 | 1.76%
|
$4,625,000 | 2022 | Serial | 5% | 119.336 | 1.96%
|
$495,000 | 2023 | Serial | 5% | 120.589 | 2.13%
|
$4.67 million | 2024 | Serial | 5% | 121.635 | 2.28%
|
$5.18 million | 2025 | Serial | 5% | 122.638 | 2.40%
|
$4.81 million | 2026 | Serial | 5% | 122.118 | 2.55%
|
$5.49 million | 2027 | Serial | 5% | 121.208 | 2.64%
|
$5.12 million | 2028 | Serial | 5% | 120.305 | 2.73%
|
$5,535,000 | 2029 | Serial | 3% | 98.106 | 3.17%
|
$5.36 million | 2030 | Serial | 5% | 119.114 | 2.85%
|
$17,485,000 | 2031 | Serial | 5% | 118.23 | 2.94%
|
$18,235,000 | 2032 | Serial | 5% | 117.645 | 3.00%
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$18.69 million | 2033 | Serial | 5% | 117.16 | 3.05%
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$16,715,000 | 2034 | Serial | 5% | 116.677 | 3.10%
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$19.24 million | 2035 | Serial | 5% | 116.197 | 3.15%
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$5 million | 2036 | Serial | 3.5% | 97.964 | 3.64%
|
$15.37 million | 2036 | Serial | 5% | 116.006 | 3.17%
|
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