By Sheri Kasprzak
New York, Sept. 24 - The Board of Trustees of Eastern Illinois University priced $84.93 million in series 2009A energy conservation projects certificates of participation (A2) on Thursday, according to a pricing sheet.
The sale included $4.005 million in series 2009A-1 tax-exempt bonds and $80.925 million in series 2009A-2 Build America Bonds.
The 2009A-1 bonds are due 2013 to 2015 with coupons from 3.5% to 4.4%, all priced at par. The 2009B bonds are due 2016 to 2024 with term bonds due 2029 and 2036. The coupons on the serials range from 4.7% to 6%, all priced at par. The 2029 bonds have a 6.2% coupon, priced at par, and the 2036 bonds have a 6.35% coupon, also priced at par.
Edward D. Jones & Co. LP and Barclays Capital Inc. were the senior managers.
Proceeds will be used to construct a renewable power center to replace the university's existing coal-fired heat and power facility, as well as replace and upgrade other energy facilities to make them more environmentally friendly.
Eastern Illinois University is based in Charleston, Ill.
| Issuer: | Board of Trustees of Eastern Illinois University
|
| Issue: | Series 2009A energy conservation projects certificates of participation
|
| Amount: | $84.93 million
|
| Type: | Negotiated
|
| Underwriters: | Edward D. Jones & Co. LP and Barclays Capital Inc. (lead)
|
| Rating: | Moody's: A2
|
| Pricing date: | Sept. 24
|
| Settlement date: | Oct. 8
|
|
|
| Series 2009A-1
|
| Maturity | Type | Coupon | Price
|
| 2013 | Serial | 3.5% | Par
|
| 2014 | Serial | 3.9% | Par
|
| 2015 | Serial | 4.4% | Par
|
|
|
| Series 2009A-2
|
| Maturity | Type | Coupon | Price
|
| 2016 | Serial | 4.7% | Par
|
| 2017 | Serial | 5% | Par
|
| 2018 | Serial | 5.25% | Par
|
| 2019 | Serial | 5.45% | Par
|
| 2020 | Serial | 5.6% | Par
|
| 2021 | Serial | 5.7% | Par
|
| 2022 | Serial | 5.8% | Par
|
| 2023 | Serial | 5.9% | Par
|
| 2024 | Serial | 6% | Par
|
| 2029 | Term | 6.2% | Par
|
| 2036 | Term | 6.35% | Par
|
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