Published on 5/24/2012 in the Prospect News Municipals Daily.
New Issue: Maryland Health sells $49.25 million Loyola University Maryland bonds
By Sheri Kasprzak
New York, May 24 - The Maryland Health and Higher Educational Facilities Authority sold $49.25 million of series 2012A revenue bonds for Loyola University Maryland, according to a pricing sheet. The deal was downsized from $50.37 million.
The bonds (A2/A/) were sold through Bank of America Merrill Lynch.
The bonds are due 2012 to 2032 with term bonds due in 2034 and 2039. The serial coupons range from 2% to 5%. The 2034 bonds have a 4% coupon, and the 2039 bonds have a 5% coupon. The term bonds were not reoffered.
Proceeds will be used to current refund the university's series 1996B, 1999, 2006B, 2007 and 2008 bonds, as well as to terminate a swap agreement connected to those bonds.
| Issuer: | Maryland Health and Higher Educational Facilities Authority/Loyola University Maryland
|
| Issue: | Series 2012A revenue bonds
|
| Amount: | $49.25 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Pricing date: | May 24
|
| Settlement date: | June 6
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1,055,000 | 2012 | Serial | 2% | 100.521
|
| $595,000 | 2013 | Serial | 3% | 103.209
|
| $615,000 | 2014 | Serial | 2% | 102.795
|
| $630,000 | 2015 | Serial | 3% | 106.473
|
| $3.02 million | 2016 | Serial | 5% | 116.12
|
| $3.38 million | 2017 | Serial | 5% | 118.212
|
| $3.54 million | 2018 | Serial | 5% | 119.617
|
| $1.46 million | 2019 | Serial | 4% | 113.475
|
| $805,000 | 2020 | Serial | 3% | 105.269
|
| $835,000 | 2021 | Serial | 3% | 103.961
|
| $865,000 | 2022 | Serial | 3% | 102.865
|
| $890,000 | 2023 | Serial | 3% | NRO
|
| $1,835,000 | 2027 | Serial | 4% | NRO
|
| $1.91 million | 2028 | Serial | 4% | NRO
|
| $1,995,000 | 2029 | Serial | 5% | NRO
|
| $2,095,000 | 2030 | Serial | 5% | NRO
|
| $2.2 million | 2031 | Serial | 5% | NRO
|
| $2.3 million | 2032 | Serial | 4% | NRO
|
| $4,875,000 | 2034 | Term | 4% | NRO
|
| $14.35 million | 2039 | Term | 5% | NRO
|
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