By Sheri Kasprzak
New York, June 17 - The Missouri Health and Educational Facilities Authority priced $196.83 million of series 2011 educational facilities revenue bonds for Washington University, said a pricing sheet.
The offering included $22.985 million of series 2011A bonds, $96.35 million of series 2011B bonds and $77.495 million of series 2011C taxable bonds.
The 2011A bonds are due Nov. 15, 2041 and have a 5% coupon priced at 105.206. The 2011B bonds are due Nov. 15, 2030 and Nov. 15, 2037. Both bonds have a 5% coupon. The 2030 bonds are priced at 108.864 and the 2037 bonds at 105.462. The 2011C bonds are due 2012 to 2015 and 2018 to 2026 with a term bond due in 2037. The serial coupons range from 0.75% to 4.47%, all priced at par. The 2037 bonds have a 5.058% coupon priced at par.
The bonds (Aaa/AAA) were sold through J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. The co-managers were Bank of America Merrill Lynch, Edward Jones & Co. and Wells Fargo Securities LLC.
Proceeds will be used to renovate and expand the educational and health facilities at Washington University, as well as refund the university's series 1998A and 2001B bonds.
| Issuer: | Missouri Health and Educational Facilities Authority/Washington University
|
| Issue: | Series 2011 educational facilities revenue bonds
|
| Amount: | $196.83 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. (lead), Bank of America Merrill Lynch, Edward Jones & Co. and Wells Fargo Securities LLC (co-managers)
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Pricing date: | June 16
|
| Settlement date: | June 29
|
|
|
| $22.985 million series 2011A
|
| Maturity | Type | Coupon | Price
|
| Nov. 15, 2041 | Term | 5% | 105.206
|
|
|
| $96.35 million series 2011B
|
| Amount | Maturity | Type | Coupon | Price
|
| $39.05 million | Nov. 15, 2030 | Term | 5% | 108.864
|
| $57.3 million | Nov. 15, 2037 | Term | 5% | 105.462
|
|
|
| $77.495 million series 2011C
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.135 million | 2012 | Serial | 0.75% | 100
|
| $3.22 million | 2013 | Serial | 0.983% | 100
|
| $3.255 million | 2014 | Serial | 1.381% | 100
|
| $3.3 million | 2015 | Serial | 1.97% | 100
|
| $10.225 million | 2018 | Serial | 2.969% | 100
|
| $2.47 million | 2019 | Serial | 3.527% | 100
|
| $2.295 million | 2020 | Serial | 3.727% | 100
|
| $2.38 million | 2021 | Serial | 3.827% | 100
|
| $2.475 million | 2022 | Serial | 3.927% | 100
|
| $2.575 million | 2023 | Serial | 4.077% | 100
|
| $2.625 million | 2024 | Serial | 4.197% | 100
|
| $2.435 million | 2025 | Serial | 4.327% | 100
|
| $2.52 million | 2026 | Serial | 4.447% | 100
|
| $34.585 million | 2037 | Term | 5.058% | 100
|
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