New Issue: University of Michigan brings $53.51 million of general revenue bonds

By Sheri Kasprzak

New York, March 15 - The Regents of the University of Michigan sold $53.51 million of series 2013A general revenue bonds, according to an official statement.

The bonds (Aaa/AAA/) were sold through BofA Merrill Lynch.

The bonds are due 2014 to 2029 with 2% to 5% coupons.

Proceeds will be used to renovate the university's East Quadrangle and facilities operated by the University of Michigan Hospitals and Health Centers.

Issuer:	Regents of the University of Michigan
Issue:	Series 2013A general revenue bonds
Amount:	$53.51 million
Type:	Negotiated
Underwriter:	BofA Merrill Lynch (lead)
Ratings:	Moody's: Aaa
Standard & Poor's: AAA
Pricing date:	March 12
Settlement date:	March 21
Amount	Maturity	Type	Coupon	Price
$1,815,000	2014	Serial	2%	101.847
$1,985,000	2015	Serial	4%	107.389
$1.89 million	2016	Serial	5%	113.602
$1,435,000	2017	Serial	5%	117.396
$1.41 million	2018	Serial	5%	120.109
$1.4 million	2019	Serial	5%	122.032
$1,395,000	2020	Serial	5%	123.562
$1.4 million	2021	Serial	5%	124.835
$1.41 million	2022	Serial	5%	125.699
$1.54 million	2023	Serial	4%	117.197
$1,815,000	2024	Serial	2.5%	101.781
$7.78 million	2025	Serial	3%	103.42
$8,445,000	2026	Serial	2.75%	99.348
$8,705,000	2027	Serial	3%	100.43
$9.18 million	2028	Serial	3%	99.042
$1,905,000	2029	Serial	4%	109.511

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