South Carolina coordinates $263.78 million general obligation bonds

By Sheri Kasprzak

New York, Feb. 8 – The State of South Carolina is set to price $263.78 million of series 2016 general obligation bonds on Thursday, according to a preliminary official statement.

The offering includes $19.2 million of series 2016A G.O. state institution bonds for South Carolina State University, $20.89 million of series 2016B G.O. state institution refunding bonds for Winthrop University, $9.16 million of series 2016C G.O. state institution refunding bonds for Midlands Technical College, $28,965,000 of series 2016D G.O. state institution refunding bonds for the Medical University of South Carolina, $10,545,000 of series 2016E G.O. state institution refunding bonds for Coastal Carolina University, $66,745,000 of series 2016A G.O. state research university infrastructure refunding bonds, $44,635,000 of series 2016A G.O. state economic development bonds, $33.29 million of series 2016B G.O. state economic development refunding bonds and $30.35 million of series 2016C taxable G.O. state economic development refunding bonds.

The bonds (Aaa/AA+/AAA) will be sold competitively with Public Resources Advisory Group as the financial adviser.

The 2016A South Carolina State University bonds are due 2018 to 2028, and the 2016B Winthrop bonds are due 2017 to 2029. The 2016C Midlands bonds are due 2017 to 2027, the series 2016D Medical University bonds are due 2017 to 2036, and the 2016E Coastal Carolina bonds are due 2017 to 2027. The 2016A research university bonds are due 2016 to 2024, the 2016A economic development bonds are due 2017 to 2030, and the 2016B economic development bonds are due 2016 to 2030. The 2016C taxable economic development bonds are due 2016 to 2030.

Proceeds will be used to refund the state’s series 2003G South Carolina State University G.O. bonds, 2006D South Carolina State University G.O.s, series 2005B Winthrop University G.O.s, 2006A Winthrop G.O.s, 2008B Winthrop G.O.s, 2009A Winthrop G.O.s, series 1998A Midlands Technical G.O. bonds, series 2002C Midlands G.O. bonds, 2007A Midlands Technical G.O. bonds, series 2005A Medical University of South Carolina G.O. bonds, 2002D Coastal Carolina G.O. bonds, 2006C Coastal Carolina G.O. bonds, series 2005A research university G.O.s, series 2005B state university infrastructure bonds, 2009A research university G.O. bonds, 2005C economic development bonds, series 2005F-G economic development bonds, 2006A economic development bonds, 2005A taxable economic development bonds and 2005D-E taxable economic development bonds.

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