Published on 11/17/2014 in the Prospect News Municipals Daily.
New Issue: College of Charleston, S.C., prices $54.26 million of revenue bonds
By Sheri Kasprzak
New York, Nov. 17 – The College of Charleston in South Carolina sold $54,255,000 of series 2014A academic and administrative facilities revenue bonds, according to a pricing sheet.
The bonds (A1) are due 2017 to 2034 with term bonds due in 2036, 2040 and 2044. The serial coupons range from 3% to 5% with 0.8% to 3.842% yields. The 2036 bonds have a 3.75% coupon priced at 98.5 to yield 3.854%, and the 2040 bonds have a 4% coupon priced at par. The 2044 bonds have a 4% coupon priced at 99.141 to yield 4.05%.
The bonds were sold competitively.
Proceeds will be used to renovate and expand the Rita Hollings Science Center.
| Issuer: | College of Charleston
|
| Issue: | Series 2014A academic and administrative facilities revenue bonds
|
| Amount: | $54,255,000
|
| Type: | Competitive
|
| Rating: | Moody’s: A1
|
| Pricing date: | Nov. 12
|
| Settlement date: | Dec. 4
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.03 million | 2017 | Serial | 5% | 109.654 | 0.80%
|
| $1,085,000 | 2018 | Serial | 5% | 112.872 | 1.05%
|
| $1,135,000 | 2019 | Serial | 5% | 114.873 | 1.44%
|
| $1,195,000 | 2020 | Serial | 5% | 116.453 | 1.75%
|
| $1,255,000 | 2021 | Serial | 5% | 117.413 | 2.05%
|
| $1,315,000 | 2022 | Serial | 5% | 118.472 | 2.25%
|
| $1.38 million | 2023 | Serial | 5% | 119.095 | 2.45%
|
| $1.45 million | 2024 | Serial | 5% | 119.756 | 2.60%
|
| $1,525,000 | 2025 | Serial | 5% | 118.392 | 2.75%
|
| $1.6 million | 2026 | Serial | 5% | 117.493 | 2.85%
|
| $1.68 million | 2027 | Serial | 3% | 98.5 | 3.148%
|
| $1.73 million | 2028 | Serial | 3.125% | 98.5 | 3.264%
|
| $1,785,000 | 2029 | Serial | 3.25% | 98.5 | 3.383%
|
| $1.84 million | 2030 | Serial | 3.375% | 98.5 | 3.502%
|
| $1,905,000 | 2031 | Serial | 3.5% | 100 | 3.50%
|
| $1.97 million | 2032 | Serial | 3.5% | 98.5 | 3.617%
|
| $2.04 million | 2033 | Serial | 3.625% | 98.5 | 3.739%
|
| $2,115,000 | 2034 | Serial | 3.75% | 98.75 | 3.842%
|
| $4.47 million | 2036 | Term | 3.75% | 98.5 | 3.854%
|
| $10,025,000 | 2040 | Term | 4% | 100 | 4.00%
|
| $11,725,000 | 2044 | Term | 4% | 99.141 | 4.05%
|
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