Published on 1/27/2015 in the Prospect News Municipals Daily.
New Issue: Charles Stark Draper Laboratory, Mass., prices $50 million taxable debt
By Sheri Kasprzak
New York, Jan. 27 – The Charles Stark Draper Laboratory Inc. of Massachusetts priced $50 million of series 2015 taxable bonds, according to a pricing sheet.
The bonds (Aa3//) were sold through senior managers J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
The bonds are due 2015 to 2030 with 0.4% to 3.589% coupons, all priced at par.
Proceeds will be used to refund the laboratory’s series 2008 revenue bonds issued through the Massachusetts Development Finance Agency.
| Issuer: | Charles Stark Draper Laboratory Inc., Mass.
|
| Issue: | Series 2015 taxable bonds
|
| Amount: | $50 million
|
| Type: | Negotiated
|
| Underwriters: | J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead)
|
| Rating: | Moody’s: Aa3
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 29
|
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|
| Amount | Maturity | Type | Coupon | Price
|
| $1.63 million | 2015 | Serial | 0.40% | 100
|
| $2.77 million | 2016 | Serial | 0.723% | 100
|
| $2.79 million | 2017 | Serial | 1.123% | 100
|
| $2.82 million | 2018 | Serial | 1.652% | 100
|
| $2.87 million | 2019 | Serial | 1.98% | 100
|
| $2,925,000 | 2020 | Serial | 2.28% | 100
|
| $2.99 million | 2021 | Serial | 2.491% | 100
|
| $3,065,000 | 2022 | Serial | 2.691% | 100
|
| $3.15 million | 2023 | Serial | 2.889% | 100
|
| $3.24 million | 2024 | Serial | 3.039% | 100
|
| $3.34 million | 2025 | Serial | 3.139% | 100
|
| $3,445,000 | 2026 | Serial | 3.239% | 100
|
| $3,555,000 | 2027 | Serial | 3.339% | 100
|
| $3,675,000 | 2028 | Serial | 3.439% | 100
|
| $3.8 million | 2029 | Serial | 3.539% | 100
|
| $3,935,000 | 2030 | Serial | 3.589% | 100
|
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