By Sheri Kasprzak
New York, July 15 - Fordham University in New York priced $115 million in series 2008B revenue bonds, said an official statement released Tuesday. The bonds were sold through the Dormitory Authority of the State of New York.
The bonds (Aaa) were sold on a negotiated basis July 9 through lead manager Citigroup Global Markets. The co-managers were Banc of America Securities LLC; Goldman, Sachs & Co.; Loop Capital Markets; Merrill Lynch; RBC Capital Markets; and Sterne, Agee & Leach.
The bonds are due from 2009 to 2028 with term bonds due 2033 and 2038. The serials have coupons from 3% to 5% with yields from 1.95% to 4.58%. The 2033 bonds have a 5% coupon to yield 4.74%, and the 2038 bonds have a 5% coupon to yield 4.78%.
Proceeds will be used for construction and renovation projects.
| Issuer: | Fordham University/Dormitory Authority of the State of New York
|
| Issue: | Series 2008B revenue bonds
|
| Amount: | $115 million
|
| Type: | Negotiated
|
| Underwriters: | Citigroup Global Markets (lead); Banc of America Securities LLC; Goldman, Sachs & Co.; Loop Capital Markets; Merrill Lynch; RBC Capital Markets; and Sterne, Agee & Leach (co-managers)
|
| Rating: | Moody's: Aaa
|
| Pricing date: | July 9
|
| Settlement date: | July 25
|
|
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 1.95%
|
| 2010 | Serial | 3% | 2.57%
|
| 2011 | Serial | 3% | 2.95%
|
| 2012 | Serial | 3.1% | 3.19%
|
| 2013 | Serial | 3.25% | 3.34%
|
| 2014 | Serial | 3.4% | 3.48%
|
| 2015 | Serial | 3.5% | 3.6%
|
| 2016 | Serial | 4% | 3.71%
|
| 2017 | Serial | 5% | 3.83%
|
| 2018 | Serial | 5% | 3.94%
|
| 2019 | Serial | 5% | 4.05%
|
| 2020 | Serial | 5% | 4.15%
|
| 2021 | Serial | 5% | 4.23%
|
| 2022 | Serial | 5% | 4.31%
|
| 2023 | Serial | 5% | 4.37%
|
| 2024 | Serial | 5% | 4.44%
|
| 2025 | Serial | 5% | 4.48%
|
| 2026 | Serial | 5% | 4.53%
|
| 2027 | Serial | 5% | 4.55%
|
| 2028 | Serial | 5% | 4.58%
|
| 2033 | Term | 5% | 4.74%
|
| 2038 | Term | 5% | 4.78%
|
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