By Sheri Kasprzak
New York, May 5 - The Nature Conservancy priced $90 million in variable-rate series 2008A not-for-profit revenue bonds.
The bonds (Aa2/VMIG1/AA-/) will be sold through the Colorado Educational & Cultural Facilities Authority.
The bonds, which are due July 1, 2033, initially bear interest at the weekly rate.
Banc of America Securities LLC was the senior manager for the negotiated deal.
Proceeds from the sale will be used to refinance a taxable line of credit issued by Bank of America, which was used to redeem the authority's series 2002B-1, 2002B-2, 2003A-3 and 2003A-4 bonds.
| Issuer: | Nature Conservancy/Colorado Educational & Cultural Facilities Authority
|
| Issue: | Series 2008A not-for-profit revenue bonds
|
| Amount: | $90 million
|
| Type: | Negotiated
|
| Maturity: | July 1, 2033
|
| Coupon: | Weekly rate
|
| Price: | Par
|
| Underwriter: | Banc of America Securities LLC (lead)
|
| Ratings: | Moody's: Aa2/VMIG1
|
| Standard & Poor's: AA-
|
| Pricing date: | May 1
|
© 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.
