By Sheri Kasprzak
New York, June 14 – The California Educational Facilities Authority sold $170.35 million of series U-7 revenue bonds for Stanford University, according to a term sheet.
The bonds (Aaa/AAA/AAA) were sold through Goldman, Sachs & Co., Barclays and BofA Merrill Lynch.
The bonds are due June 1, 2046 and have a 5% coupon priced at 146.757 to yield 2.71%.
Proceeds will be used to finance or refinance capital projects for the university.
| Issuer: | California Educational Facilities Authority/Stanford University
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| Issue: | Series U-7 revenue bonds
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| Amount: | $170.35 million
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| Maturity: | June 1, 2046
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| Coupon: | 5%
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| Price: | 146.757
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| Yield: | 2.71%
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| Type: | Negotiated
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| Underwriters: | Goldman, Sachs & Co., Barclays and BofA Merrill Lynch
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Fitch: AAA
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| Pricing date: | June 8
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| Settlement date: | June 22
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