Published on 6/7/2012 in the Prospect News Municipals Daily.
New Issue: Kent State University, Ohio, brings $170 million of limited tax bonds
By Sheri Kasprzak
New York, June 7 - Kent State University of Ohio priced $170 million of series 2012A limited tax general obligation bonds, said a pricing sheet.
The bonds (Aa3/A+/) were sold through Bank of America Merrill Lynch.
The bonds are due 2014 to 2032 with term bonds due in 2037 and 2042. The serial coupons range from 3% to 5%. The 2037 bonds have a 5% coupon priced at 115.655 and the 2042 bonds have a 5% coupon priced at 116.175.
Proceeds will be used to finance capital improvements to the university.
| Issuer: | Kent State University, Ohio
|
| Issue: | Series 2012A limited tax general obligation bonds
|
| Amount: | $170 million
|
| Type: | Negotiated
|
| Underwriters: | Bank of America Merrill Lynch (lead)
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: A+
|
| Pricing date: | June 7
|
| Settlement date: | June 21
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $2,915,000 | 2014 | Serial | 3% | 103.923
|
| $3,005,000 | 2015 | Serial | 5% | 110.953
|
| $3,155,000 | 2016 | Serial | 4% | 110.253
|
| $3.28 million | 2017 | Serial | 5% | 116.041
|
| $3,445,000 | 2018 | Serial | 4% | 112.06
|
| $3.58 million | 2019 | Serial | 4% | 112.079
|
| $3,725,000 | 2020 | Serial | 5% | 118.759
|
| $3.91 million | 2021 | Serial | 5% | 118.708
|
| $4,105,000 | 2022 | Serial | 4% | 110.275
|
| $4.27 million | 2023 | Serial | 5% | 118.724
|
| $4,485,000 | 2024 | Serial | 5% | 118.515
|
| $4,705,000 | 2025 | Serial | 5% | 118.387
|
| $4,945,000 | 2026 | Serial | 5% | 118.416
|
| $5.19 million | 2027 | Serial | 3.5% | 97.838
|
| $5.37 million | 2028 | Serial | 5% | 118.269
|
| $5.64 million | 2029 | Serial | 5% | 118.134
|
| $5.92 million | 2030 | Serial | 5% | 117.886
|
| $6.22 million | 2031 | Serial | 5% | 117.533
|
| $3.25 million | 2032 | Serial | 4% | 99.453
|
| $3.28 million | 2032 | Serial | 4.5% | 107.66
|
| $37.61 million | 2037 | Term | 5% | 115.655
|
| $47,995,000 | 2042 | Term | 5% | 116.175
|
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