By Sheri Kasprzak
New York, Aug. 29 - The Thomas Jefferson School of Law in California priced $133.39 million in series 2008 revenue bonds (/BB+/), according to an official statement. The bonds were sold through the California Statewide Communities Development Authority.
The sale includes $96.715 million in series 2008A bonds and $36.675 million in series 2008B bonds.
The 2008A bonds are due 2026, 2032 and 2038. The 2026 bonds have a 7% coupon to yield 7.3%, and the 2032 bonds have a 7.25% coupon to yield 7.4%. The 2038 bonds have a 7.25% coupon to yield 7.5%.
The 2008B bonds are due 2023 and have an 11.375% coupon to yield 12.253%.
Merrill Lynch was the lead manager.
Proceeds will be used for the construction, equipping and acquisition of existing campus facilities.
Issuer: | Thomas Jefferson School of Law/ California Statewide Communities Development Authority
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Issue: | Series 2008 revenue bonds
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Amount: | $133.39 million
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Type: | Negotiated
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Underwriters: | Merrill Lynch
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Rating: | Standard & Poor's: BB+
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Pricing date: | Aug. 21
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Settlement date: | Aug. 28
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Series 2008A
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Maturity | Type | Coupon | Yield
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2026 | Term | 7% | 7.30%
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2032 | Term | 7.25% | 7.40%
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2038 | Term | 7.25% | 7.50%
|
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Series 2008B
|
Maturity | Type | Coupon | Yield
|
2023 | Term | 11.375% | 12.253%
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