Published on 8/27/2015 in the Prospect News Municipals Daily.
New Issue: Connecticut Health sells $324.63 million Quinnipiac University bonds
By Sheri Kasprzak
New York, Aug. 27 – The Connecticut Health and Educational Facilities Authority sold $324.63 million of series 2015L revenue bonds for Quinnipiac University, according to a pricing sheet.
The bonds (A3/A-) were sold through Barclays.
The bonds are due 2018 to 2036 with term bonds due in 2041 and 2045. The serial coupons range from 3.5% to 5%. The 2041 bonds have a 4.125% coupon priced at 97.436, and the 2045 bonds have a 5% coupon priced at 107.934.
Proceeds will be used to finance capital projects for the Hamden-based university.
| Issuer: | Connecticut Health and Educational Facilities Authority/Quinnipiac University
|
| Issue: | Series 2015L revenue bonds
|
| Amount: | $324.63 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays
|
| Ratings: | Moody’s: A3
|
| Standard & Poor’s: A-
|
| Pricing date: | Aug. 27
|
| Settlement date: | Sept. 22
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6.44 million | 2018 | Serial | 5% | 110.339
|
| $6.74 million | 2019 | Serial | 4% | 109.063
|
| $6,895,000 | 2020 | Serial | 5% | 114.232
|
| $7.33 million | 2021 | Serial | 5% | 115.104
|
| $7,715,000 | 2022 | Serial | 5% | 115.758
|
| $8.05 million | 2023 | Serial | 5% | 116.563
|
| $8,685,000 | 2024 | Serial | 5% | 116.753
|
| $9.03 million | 2025 | Serial | 5% | 116.924
|
| $9.6 million | 2026 | Serial | 5% | 115.183
|
| $10,105,000 | 2027 | Serial | 5% | 114.369
|
| $10.61 million | 2028 | Serial | 5% | 113.563
|
| $5 million | 2029 | Serial | 3.5% | 97.853
|
| $10.36 million | 2029 | Serial | 5% | 112.763
|
| $15,705,000 | 2030 | Serial | 5% | 111.882
|
| $16,275,000 | 2031 | Serial | 5% | 111.183
|
| $19.75 million | 2032 | Serial | 5% | 110.749
|
| $7.5 million | 2033 | Serial | 4% | 98.741
|
| $12.98 million | 2033 | Serial | 5% | 110.317
|
| $8,525,000 | 2034 | Serial | 4% | 98.373
|
| $8.87 million | 2035 | Serial | 4% | 97.985
|
| $5 million | 2036 | Serial | 5% | 109.544
|
| $58,465,000 | 2041 | Term | 4.125% | 97.436
|
| $65 million | 2045 | Term | 5% | 107.934
|
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