By Sheri Kasprzak
New York, Dec. 1 - The California Municipal Finance Authority sold $54.085 million of series 2011 revenue bonds for Emerson College, said a pricing sheet.
The bonds (Baa1/BBB+/) were sold through Barclays Capital Inc. and Citigroup Global Markets Inc.
The bonds are due 2028, 2033 and 2042. The 2028 bonds have a 5% coupon and priced at 98.8. The 2033 bonds have a 5.75% coupon and priced at 102.842. The 2042 bonds have a 6% coupon and priced at 103.507.
Proceeds will be used to construct, furnish and equip the Emerson College Los Angeles Center, which will include classrooms and administrative office space, student housing, faculty apartments, retail space and a parking garage.
| Issuer: | California Municipal Finance Authority/Emerson College
|
| Issue: | Series 2011 revenue bonds
|
| Amount: | $54.085 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. and Citigroup Global Markets Inc. (lead)
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $9.315 million | 2028 | Term | 5% | 98.8
|
| $12.065 million | 2033 | Term | 5.75% | 102.842
|
| $32.705 million | 2042 | Term | 6% | 103.507
|
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