Published on 8/24/2015 in the Prospect News Municipals Daily.
New Issue: University of Chicago sells $150.5 million taxable fixed-rate bonds
By Sheri Kasprzak
New York, Aug. 24 – The University of Chicago sold $105,505,000 of series 2015B taxable fixed-rate bonds, according to an offering circular.
The bonds (Aa2/AA/AA+) were sold through Barclays and RBC Capital Markets LLC.
The bonds are due 2016 to 2030 with a term bond due in 2033. The serial coupons range from 1.05% to 3.972%, all priced at par. The 2033 bonds have a 4.261% coupon priced at par.
Proceeds will be used for general university purposes.
| Issuer: | University of Chicago
|
| Issue: | Series 2015B taxable fixed-rate bonds
|
| Amount: | $150,505,000
|
| Type: | Negotiated
|
| Underwriters: | Barclays and RBC Capital Markets LLC (lead), Loop Capital Markets LLC, Wells Fargo Securities LLC and William Blair & Co. Inc. (co-managers)
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
| Fitch: AA+
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $6,825,000 | 2016 | Serial | 1.05% | 100
|
| $6,905,000 | 2017 | Serial | 1.303% | 100
|
| $7.01 million | 2018 | Serial | 1.739% | 100
|
| $7,145,000 | 2019 | Serial | 2.093% | 100
|
| $7,315,000 | 2020 | Serial | 2.443% | 100
|
| $7,505,000 | 2021 | Serial | 2.755% | 100
|
| $7,725,000 | 2022 | Serial | 2.955% | 100
|
| $7,965,000 | 2023 | Serial | 3.122% | 100
|
| $8,225,000 | 2024 | Serial | 3.272% | 100
|
| $8,505,000 | 2025 | Serial | 3.372% | 100
|
| $8,805,000 | 2026 | Serial | 3.522% | 100
|
| $9,125,000 | 2027 | Serial | 3.622% | 100
|
| $9.47 million | 2028 | Serial | 3.772% | 100
|
| $9,845,000 | 2029 | Serial | 3.922% | 100
|
| $10.24 million | 2030 | Serial | 3.972% | 100
|
| $27,895,000 | 2033 | Term | 4.261% | 100
|
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