By Sheri Kasprzak
New York, Oct. 5 - The California Infrastructure and Economic Development Bank brought $64.925 million of series 2011 variable-rate revenue bonds for The Colburn School, according to an official statement.
The bonds (A+) were sold through senior manager Bank of America Merrill Lynch.
The bonds are due Aug. 1, 2037 and bear interest at the Sifma index rate plus 25 basis points. The bonds feature a mandatory tender on Feb. 1, 2016.
Proceeds will be used to refund existing bonds that were used to construct, renovate, furnish and equip a library, rehearsal hall, performance lab, classrooms, studios, practice rooms, a cafeteria and dormitories for the Colburn School, a performing arts school in Los Angeles.
| Issuer: | California Infrastructure and Economic Development Bank/The Colburn School
|
| Issue: | Series 2011 variable-rate revenue bonds
|
| Amount: | $64.925 million
|
| Maturity: | Aug. 1, 2037
|
| Coupon: | Sifma index plus 25 bps
|
| Price: | 100
|
| Type | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Rating: | Standard & Poor's: A+
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 11
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
