By Sheri Kasprzak
New York, April 14 - Columbia University sold $282.715 million in series 2008A revenue bonds, an official statement said Monday. The bonds were sold through the Dormitory Authority of the State of New York on Wednesday.
The term bonds (Aaa/AAA/) are due July 1, 2013; July 1, 2013; and July 1, 2038. The 2013 term bonds have a 4% coupon and a 3.01% yield. A separate 2013 bond issue has a 5% coupon and a 3.01% yield. The 2038 bonds have a 5% coupon and a 4.72% yield.
The bonds were sold on a negotiated basis with Morgan Stanley as the lead manager. Banc of America Securities LLC; JPMorgan; Goldman, Sachs & Co.; Lehman Brothers; Ramirez & Co.; Roosevelt & Cross; and Siebert Brandford Shank & Co. are the co-managers.
The proceeds will be used for the construction of a library, geochemistry building, faculty hall, cancer research center, faculty office space and various other projects on campus. The rest will be used for various capital improvements.
| Issuer: | Columbia University/ Dormitory Authority of the State of New York
|
| Issue: | Series 2008A revenue bonds
|
| Amount: | $282.715 million
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley (lead); Banc of America Securities LLC; JPMorgan; Goldman, Sachs & Co.; Lehman Brothers; Ramirez & Co.; Roosevelt & Cross; and Siebert Brandford Shank & Co.
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | April 9
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2013 | Term | 4% | 3.01%
|
| 2013 | Term | 5% | 3.01%
|
| 2038 | Term | 5% | 4.72%
|
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