Published on 2/10/2012 in the Prospect News Municipals Daily.
New Issue: University of North Carolina sells $136.6 million general revenue bonds
By Sheri Kasprzak
New York, Feb. 10 - The University of North Carolina priced $136.6 million of series 2012 general revenue bonds, said a pricing sheet.
The bonds (Aa3) were sold through Barclays Capital Inc.
The 2012A bonds are due 2012 to 2032 with term bonds due in 2037and 2041. The serial coupons range from 2% to 5%. The 2037 bonds have a split maturity with a 3.75% coupon priced at 99.352 and a 5% coupon priced at 112.399. The 2041 bonds have a 3.75% coupon priced at 98.427 and a 5% coupon priced at 111.858.
The 2012B bonds are due 2014 to 2022 with term bonds due in 2027, 2032 and 2041. The serial coupons range from 0.616% to 2.897%, all priced at par. The 2027 bonds have a 3.647% coupon priced at par. The 2032 bonds have a 4.251% coupon priced at par. The 2041 bonds have a split maturity with a 4.451% coupon priced at par and a 4.55% coupon priced at 97.614.
Proceeds will be used to finance capital improvements to the university's Charlotte campus.
| Issuer: | University of North Carolina
|
| Issue: | Series 2012 general revenue bonds
|
| Amount: | $136.6 million
|
| Type: | Negotiated
|
| Underwriter: | Barclays Capital Inc.
|
| Rating: | Moody's: Aa3
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 23
|
|
|
| $99.66 million series 2012A
|
| Amount | Maturity | Type | Coupon | Price
|
| $760,000 | 2012 | Serial | 2% | 100.189
|
| $275,000 | 2013 | Serial | 2% | 101.897
|
| $235,000 | 2014 | Serial | 2% | 103.265
|
| $1.64 million | 2014 | Serial | 4% | 107.452
|
| $400,000 | 2015 | Serial | 3% | 107.212
|
| $1.55 million | 2015 | Serial | 4% | 110.282
|
| $2,015,000 | 2016 | Serial | 4% | 112.811
|
| $2.1 million | 2017 | Serial | 4% | 115.002
|
| $2.18 million | 2018 | Serial | 4% | 115.797
|
| $55,000 | 2019 | Serial | 3% | 109.226
|
| $2,205,000 | 2019 | Serial | 4% | 115.912
|
| $2.36 million | 2020 | Serial | 4% | 115.949
|
| $2,455,000 | 2021 | Serial | 4% | 115.76
|
| $2.55 million | 2022 | Serial | 4% | 115.737
|
| $2,655,000 | 2023 | Serial | 5% | 123.508
|
| $1.35 million | 2024 | Serial | 3% | 103.263
|
| $1.45 million | 2024 | Serial | 5% | 122.702
|
| $2.9 million | 2025 | Serial | 5% | 121.901
|
| $3 million | 2026 | Serial | 5% | 120.81
|
| $3.34 million | 2027 | Serial | 5% | 119.828
|
| $3.24 million | 2028 | Serial | 3% | 99.239
|
| $3.33 million | 2029 | Serial | 5% | 118.181
|
| $3,505,000 | 2030 | Serial | 5% | 117.32
|
| $3,685,000 | 2031 | Serial | 5% | 116.372
|
| $525,000 | 2032 | Serial | 3.375% | 98.916
|
| $3.34 million | 2032 | Serial | 5% | 115.434
|
| $2.4 million | 2037 | Term | 3.75% | 99.352
|
| $20,995,000 | 2037 | Term | 5% | 112.399
|
| $2.25 million | 2041 | Term | 3.75% | 98.427
|
| $20,915,000 | 2041 | Term | 5% | 111.858
|
|
|
| $36.94 million series 2012B taxable bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $925,000 | 2014 | Serial | 0.616% | 100
|
| $925,000 | 2015 | Serial | 0.971% | 100
|
| $940,000 | 2016 | Serial | 1.203% | 100
|
| $950,000 | 2017 | Serial | 1.603% | 100
|
| $965,000 | 2018 | Serial | 1.972% | 100
|
| $990,000 | 2019 | Serial | 2.272% | 100
|
| $1.01 million | 2020 | Serial | 2.497% | 100
|
| $1,035,000 | 2021 | Serial | 2.747% | 100
|
| $1,065,000 | 2022 | Serial | 2.897% | 100
|
| $5,865,000 | 2027 | Term | 3.647% | 100
|
| $7,095,000 | 2032 | Term | 4.251% | 100
|
| $8,675,000 | 2041 | Term | 4.451% | 100
|
| $6.5 million | 2041 | Term | 4.55% | 97.614
|
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