By Sheri Kasprzak
New York, April 11 - Vanderbilt University sold $256.05 million in series 2008 revenue refunding bonds through the Health and Educational Facilities Board of the Metropolitan Government of Nashville and Davidson County, a final official statement said Friday.
The bonds (Aa2/AA/AA) include $136.1 million in series 2008A bonds and $119.95 million in series 2008B bonds.
The series 2008A bonds are due from 2009 to 2018 with coupons from 4% to 5% and yields from 2.45% to 4.1%. The series 2008B bonds are due from 2009 to 2018 with coupons from 3.5% to 5% and yields from 2.5% to 4.16%.
The bonds were sold on a negotiated basis through lead manager Merrill Lynch & Co. and co-managers Goldman, Sachs & Co. and J.P. Morgan Securities Inc.
Proceeds will be used to retire commercial paper.
| Issuer: | Vanderbilt University
|
| Issue: | Series 2008 revenue refunding bonds
|
| Amount: | $256.05 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch (lead); Goldman, Sachs & Co.; J.P. Morgan Securities Inc.
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Fitch: AA
|
| Pricing date: | April 3
|
|
|
| Series 2008A bonds
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 4% | 2.45%
|
| 2010 | Serial | 4.25% | 2.77%
|
| 2011 | Serial | 5% | 2.93%
|
| 2012 | Serial | 4.5% | 3.18%
|
| 2013 | Serial | 5% | 3.32%
|
| 2014 | Serial | 5% | 3.49%
|
| 2015 | Serial | 5% | 3.65%
|
| 2016 | Serial | 5% | 3.82%
|
| 2017 | Serial | 5% | 3.99%
|
| 2018 | Serial | 5% | 4.10%
|
|
|
| Series 2008B bonds
|
| Maturity | Type | Coupon | Yield
|
| 2009 | Serial | 3.5% | 2.50%
|
| 2010 | Serial | 4% | 2.82%
|
| 2011 | Serial | 4% | 2.98%
|
| 2012 | Serial | 4% | 3.23%
|
| 2012 | Serial | 5% | 3.23%
|
| 2013 | Serial | 5% | 3.37%
|
| 2014 | Serial | 4% | 3.54%
|
| 2014 | Serial | 5% | 3.54%
|
| 2015 | Serial | 5% | 3.70%
|
| 2016 | Serial | 4.5% | 3.87%
|
| 2017 | Serial | 4.5% | 4.05%
|
| 2018 | Serial | 5% | 4.16%
|
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