Published on 7/30/2013 in the Prospect News Municipals Daily.
New Issue: Emory University, Ga., brings to market $207.66 million revenue bonds
By Sheri Kasprzak
New York, July 30 - The Private Colleges and Universities Authority of Georgia sold $207,655,000 of series 2013A revenue bonds for Emory University, according to a pricing sheet.
The bonds (Aa2/AA/AA+) were sold through Barclays.
The bonds are due 2014 to 2022 with a term bond due in 2043. The serial coupons range from 3% to 5%. The 2043 bonds have a 5% coupon priced at 103.285.
Proceeds will be used to refund the university's series 2002A and 2005A revenue bonds and its series 2010 commercial paper notes.
| Issuer: | Private Colleges and Universities Authority, Ga./Emory University
|
| Issue: | Series 2013A revenue bonds
|
| Amount: | $207,655,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays (lead), BofA Merrill Lynch, Goldman, Sachs & Co. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA+
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 15
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $4.82 million | 2014 | Serial | 3% | 103.094
|
| $5.34 million | 2015 | Serial | 4% | 107.442
|
| $4.32 million | 2016 | Serial | 4% | 109.766
|
| $4.62 million | 2017 | Serial | 4% | 111.413
|
| $4,595,000 | 2018 | Serial | 5% | 117.643
|
| $1,605,000 | 2019 | Serial | 5% | 118.358
|
| $2.15 million | 2020 | Serial | 5% | 118.303
|
| $130,000 | 2021 | Serial | 4% | 110.349
|
| $485,000 | 2022 | Serial | 4% | 109.351
|
| $179.59 million | 2043 | Term | 5% | 103.285
|
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