Published on 2/22/2012 in the Prospect News Municipals Daily.
New Issue: Kansas Development Finance sells $53.68 million bonds for Kansas State University Athletics
By Sheri Kasprzak
New York, Feb. 22 - The Kansas Development Finance Authority sold $53,675,000 of series 2012B revenue bonds for Kansas State University Athletics, said a pricing sheet.
The deal included $30,035,000 of series 2012B-1 tax-exempt bonds and $23.64 million of series 2012B-2 taxable bonds.
The 2012B-1 bonds are due 2025 to 2032 with 3% to 5.25% coupons. The 2012B-2 bonds are due 2013 to 2025 with 1.088% to 4.233% coupons, all priced at par.
Bank of America Merrill Lynch was the senior manager for the bonds (A1/A-/).
Proceeds will be used to finance athletic facilities at Kansas State University.
| Issuer: | Kansas Development Finance Authority/Kansas State University
|
| Issue: | Series 2012B revenue bonds
|
| Amount: | $53,675,000
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A-
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 1
|
|
|
| $30,035,000 series 2012B-1 tax-exempt bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $510,000 | 2025 | Serial | 3% | 98.374
|
| $3.42 million | 2026 | Serial | 5% | 109.166
|
| $3,595,000 | 2027 | Serial | 5% | 108.705
|
| $3.79 million | 2028 | Serial | 5.25% | 109.716
|
| $3,985,000 | 2029 | Serial | 5% | 107.79
|
| $4.19 million | 2030 | Serial | 5% | 107.285
|
| $4.41 million | 2031 | Serial | 5% | 106.833
|
| $6,135,000 | 2032 | Serial | 5% | 106.334
|
|
|
| $23.64 million series 2012B-2 taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $320,000 | 2013 | Serial | 1.088% | 100
|
| $625,000 | 2014 | Serial | 1.416% | 100
|
| $775,000 | 2015 | Serial | 1.708% | 100
|
| $1.04 million | 2016 | Serial | 2.043% | 100
|
| $1.05 million | 2017 | Serial | 2.343% | 100
|
| $1,075,000 | 2018 | Serial | 2.587% | 100
|
| $1.43 million | 2019 | Serial | 2.837% | 100
|
| $2,705,000 | 2020 | Serial | 3.233% | 100
|
| $2.8 million | 2021 | Serial | 3.483% | 100
|
| $2,905,000 | 2022 | Serial | 3.733% | 100
|
| $3,015,000 | 2023 | Serial | 3.933% | 100
|
| $3.14 million | 2024 | Serial | 4.083% | 100
|
| $2.76 million | 2025 | Serial | 4.233% | 100
|
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