By Sheri Kasprzak
New York, Sept. 21 - The University of Hawaii sold $293.17 million of series 2010 university revenue bonds through Bank of America Merrill Lynch Tuesday, said a pricing sheet.
The offering included $115.145 million of series 2010A-1 Build America Bonds, $23.61 million of series 2010A-2 tax-exempt bonds, $128.295 million of series 2010B-1 Build America Bonds and $26.12 million of series 2010B-2 tax-exempt bonds.
The 2010A-1 bonds are due 2020 to 2025, with term bonds due 2030and 2040. Coupons range from 4.161% to 5.011%, all priced at par. The 2030 bonds have a 5.834% coupon priced at par and the 2040 bonds have a 6.034% coupon, also priced at par.
The 2010A-2 bonds are due 2011 to 2019 with coupons from 2.5% to 4%. The full pricing details were not immediately available.
The 2010B-1 bonds are due 2020 to 2025, with term bonds due 2030 and 2040. The serial coupons range from 4.161% to 5.011%, all priced at par. The 2030 bonds have a 5.834% coupon priced at par and the 2040 bonds have a 6.034% coupon, also priced at par.
The 2010B-2 bonds are due 2011 to 2019 with coupons from 2.5% to 5%. The full pricing details were not immediately available Tuesday.
Proceeds will be used to finance or refinance costs associated with constructing and maintaining the university's Cancer Research Center of Hawaii.
| Issuer: | University of Hawaii
|
| Issue: | Series 2010 university revenue bonds
|
| Amount: | $293.17 million
|
| Type: | Negotiated
|
| Underwriter: | Bank of America Merrill Lynch
|
| Pricing date: | Sept. 21
|
| Settlement date: | Oct. 7
|
|
|
| Series 2010A-1
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 4.161% | 100
|
| 2021 | Serial | 4.361% | 100
|
| 2022 | Serial | 4.561% | 100
|
| 2023 | Serial | 4.711% | 100
|
| 2024 | Serial | 4.861% | 100
|
| 2025 | Serial | 5.011% | 100
|
| 2030 | Term | 5.834% | 100
|
| 2040 | Term | 6.034% | 100
|
|
|
| Series 2010A-2
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 2.5%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 4%
|
| 2016 | Serial | 4%
|
| 2017 | Serial | 4%
|
| 2018 | Serial | 4%
|
| 2019 | Serial | 4%
|
|
|
| Series 2010B-1
|
| Maturity | Type | Coupon | Price
|
| 2020 | Serial | 4.161% | 100
|
| 2021 | Serial | 4.361% | 100
|
| 2022 | Serial | 4.561% | 100
|
| 2023 | Serial | 4.711% | 100
|
| 2024 | Serial | 4.861% | 100
|
| 2025 | Serial | 5.011% | 100
|
| 2030 | Term | 5.834% | 100
|
| 2040 | Term | 6.034% | 100
|
|
|
| Series 2010B-2
|
| Maturity | Type | Coupon
|
| 2011 | Serial | 2.5%
|
| 2012 | Serial | 3%
|
| 2013 | Serial | 3%
|
| 2014 | Serial | 4%
|
| 2015 | Serial | 5%
|
| 2016 | Serial | 4%
|
| 2017 | Serial | 4%
|
| 2018 | Serial | 5%
|
| 2019 | Serial | 5%
|
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