By Sheri Kasprzak
New York, Aug. 29 - The Thomas Jefferson School of Law in California priced $133.39 million in series 2008 revenue bonds (/BB+/), according to an official statement. The bonds were sold through the California Statewide Communities Development Authority.
The sale includes $96.715 million in series 2008A bonds and $36.675 million in series 2008B bonds.
The 2008A bonds are due 2026, 2032 and 2038. The 2026 bonds have a 7% coupon to yield 7.3%, and the 2032 bonds have a 7.25% coupon to yield 7.4%. The 2038 bonds have a 7.25% coupon to yield 7.5%.
The 2008B bonds are due 2023 and have an 11.375% coupon to yield 12.253%.
Merrill Lynch was the lead manager.
Proceeds will be used for the construction, equipping and acquisition of existing campus facilities.
| Issuer: | Thomas Jefferson School of Law/ California Statewide Communities Development Authority
|
| Issue: | Series 2008 revenue bonds
|
| Amount: | $133.39 million
|
| Type: | Negotiated
|
| Underwriters: | Merrill Lynch
|
| Rating: | Standard & Poor's: BB+
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 28
|
|
|
| Series 2008A
|
| Maturity | Type | Coupon | Yield
|
| 2026 | Term | 7% | 7.30%
|
| 2032 | Term | 7.25% | 7.40%
|
| 2038 | Term | 7.25% | 7.50%
|
|
|
| Series 2008B
|
| Maturity | Type | Coupon | Yield
|
| 2023 | Term | 11.375% | 12.253%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
