Published on 2/7/2014 in the Prospect News Municipals Daily.
New Issue: Washington State University brings $54.34 million general revenue bonds
By Sheri Kasprzak
New York, Feb. 7 - The Washington State University priced $54,335,000 of series 2014 general revenue bonds, according to a pricing sheet.
The bonds (Aa2/AA/) were sold through Goldman, Sachs & Co.
The bonds are due 2015 to 2034 with a term bond due in 2039. The serial coupons range from 1.75% to 5% and yields range from 0.23% to 3.95%. The 2039 bonds have a 5% coupon priced at 107.225 to yield 4.12%.
Proceeds will be used to construct dining and housing facilities for the university, as well as to construct a new technology laboratory.
| Issuer: | Washington State University
|
| Issue: | Series 2014 general revenue bonds
|
| Amount: | $54,335,000
|
| Type: | Negotiated
|
| Underwriters: | Goldman, Sachs & Co. (lead), Baird & Co., Barclays and J.P. Morgan Securities LLC (co-managers)
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 13
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $290,000 | 2015 | Serial | 3% | 103.133 | 0.23%
|
| $1.26 million | 2016 | Serial | 5% | 109.761 | 0.40%
|
| $1.32 million | 2017 | Serial | 4% | 110.471 | 0.62%
|
| $1,375,000 | 2018 | Serial | 5% | 116.243 | 0.98%
|
| $1.45 million | 2019 | Serial | 1.75% | 102.227 | 1.30%
|
| $1.47 million | 2020 | Serial | 5% | 118.948 | 1.73%
|
| $1,545,000 | 2021 | Serial | 5% | 118.97 | 2.12%
|
| $1.62 million | 2022 | Serial | 5% | 118.616 | 2.46%
|
| $1.7 million | 2023 | Serial | 5% | 118.503 | 2.70%
|
| $1.79 million | 2024 | Serial | 5% | 118.61 | 2.87%
|
| $1.88 million | 2025 | Serial | 5% | 116.505 | 3.09%
|
| $1.97 million | 2026 | Serial | 5% | 115.282 | 3.22%
|
| $2.07 million | 2027 | Serial | 5% | 113.982 | 3.36%
|
| $2,175,000 | 2028 | Serial | 5% | 112.882 | 3.48%
|
| $2,285,000 | 2029 | Serial | 5% | 111.975 | 3.58%
|
| $2,395,000 | 2030 | Serial | 5% | 111.166 | 3.67%
|
| $2,515,000 | 2031 | Serial | 5% | 110.364 | 3.76%
|
| $2.64 million | 2032 | Serial | 5% | 109.657 | 3.84%
|
| $2,775,000 | 2033 | Serial | 5% | 109.043 | 3.91%
|
| $2.91 million | 2034 | Serial | 5% | 108.693 | 3.95%
|
| $16.9 million | 2039 | Term | 5% | 107.225 | 4.12%
|
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