Published on 5/30/2012 in the Prospect News Municipals Daily.
New Issue: Dasny sells $137.98 million Columbia University revenue bonds
By Sheri Kasprzak
New York, May 30 - The Dormitory Authority of the State of New York priced $137.98 million of series 2012A revenue bonds for Columbia University, according to a pricing sheet.
The bonds (Aaa/AAA/) were sold through lead managers J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Goldman Sachs & Co. The co-managers were Lebenthal & Co. LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and Roosevelt & Cross Inc.
The bonds are due 2018 to 2022 with 3% to 5% coupons.
Proceeds will be used to refinance debt that originally financed construction and renovation projects for the university.
| Issuer: | Dormitory Authority of the State of New York/Columbia University
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $137.98 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Goldman Sachs & Co. (lead), Lebenthal & Co. LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc. and Roosevelt & Cross Inc. (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | May 30
|
| Settlement date: | June 7
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2 million | 2018 | Serial | 3% | 111.756
|
| $1.65 million | 2018 | Serial | 4% | 117.848
|
| $8 million | 2018 | Serial | 5% | 123.94
|
| $2 million | 2019 | Serial | 3% | 111.753
|
| $3.37 million | 2019 | Serial | 4% | 118.708
|
| $8 million | 2019 | Serial | 5% | 125.663
|
| $500,000 | 2020 | Serial | 3% | 110.859
|
| $1,175,000 | 2020 | Serial | 4% | 118.617
|
| $22.2 million | 2020 | Serial | 5% | 126.375
|
| $150,000 | 2021 | Serial | 3% | 110.339
|
| $36.92 million | 2021 | Serial | 5% | 127.43
|
| $2.26 million | 2022 | Serial | 3% | 110.062
|
| $49,755,000 | 2022 | Serial | 5% | 128.699
|
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