By Sheri Kasprzak
New York, Aug. 11 - The Private Colleges and Universities Authority of Georgia sold $211.49 million of series 2011A revenue bonds for Emory University, according to a term sheet.
The bonds (Aa2/AA/) were sold through Barclays Capital Inc. and Morgan Stanley & Co. Inc. with Bank of America Merrill Lynch as the co-manager.
The bonds are due 2016 and 2041 with 3% to 5% coupons.
Proceeds will be used to refund all of university's outstanding series 2001A revenue bonds and 2008B revenue bonds, as well as a portion of its series 2002A revenue bonds.
| Issuer: | Private Colleges and Universities Authority/Emory University
|
| Issue: | Series 2011A revenue bonds
|
| Amount: | $211.49 million
|
| Type: | Negotiated
|
| Underwriters: | Barclays Capital Inc. and Morgan Stanley & Co. Inc. (lead), Bank of America Merrill Lynch (co-manager)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 23
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $5.75 million | 2016 | Term | 3% | 109.361
|
| $94.25 million | 2016 | Term | 5% | 119.112
|
| $111.49 million | 2041 | Term | 5% | 106.236
|
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