Published on 2/27/2014 in the Prospect News Municipals Daily.
New Issue: Dasny prices $61.82 million of revenue bonds for Fordham University
By Sheri Kasprzak
New York, Feb. 27 - The Dormitory Authority of the State of New York priced $61.82 million of series 2014 revenue bonds for Fordham University, according to a pricing sheet.
The bonds (A2/A/) were sold through BofA Merrill Lynch.
The bonds are due 2015 to 2034 with term bonds due in 2039 and 2044. The serial coupons range from 3% to 5%. The 2039 bonds have a 4.125% coupon priced at 97.164 and the 2044 bonds have a 5% coupon priced at 111.594.
Proceeds will be used to acquire a condominium unit on Columbus Avenue in Manhattan for administrative and academic office space and lecture rooms at the Lincoln Center campus.
| Issuer: | Dormitory Authority of the State of New York/Fordham University
|
| Issue: | Series 2014 revenue bonds
|
| Amount: | $61.82 million
|
| Type: | Negotiated
|
| Underwriter: | BofA Merrill Lynch
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | Feb. 27
|
| Settlement date: | April 3
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.23 million | 2015 | Serial | 3% | 103.414
|
| $1.64 million | 2016 | Serial | 4% | 108.011
|
| $1,705,000 | 2017 | Serial | 5% | 113.768
|
| $1.79 million | 2018 | Serial | 5% | 116.535
|
| $1,875,000 | 2019 | Serial | 5% | 118.362
|
| $1.97 million | 2020 | Serial | 5% | 118.234
|
| $2,075,000 | 2021 | Serial | 5% | 118.138
|
| $2,175,000 | 2022 | Serial | 5% | 117.621
|
| $2.29 million | 2023 | Serial | 5% | 117.271
|
| $1.26 million | 2024 | Serial | 5% | 117.522
|
| $1.32 million | 2025 | Serial | 5% | 117.088
|
| $1.39 million | 2026 | Serial | 5% | 116.675
|
| $1.46 million | 2027 | Serial | 5% | 115.899
|
| $1.53 million | 2028 | Serial | 5% | 115.368
|
| $1,605,000 | 2029 | Serial | 5% | 114.785
|
| $1.69 million | 2030 | Serial | 5% | 114.178
|
| $1.77 million | 2031 | Serial | 4% | 99.871
|
| $1,845,000 | 2032 | Serial | 4% | 99.226
|
| $1,915,000 | 2033 | Serial | 4% | 98.804
|
| $1,995,000 | 2034 | Serial | 4% | 98.088
|
| $11.26 million | 2039 | Term | 4.125% | 97.164
|
| $14.03 million | 2044 | Term | 5% | 111.594
|
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