Published on 1/22/2015 in the Prospect News Municipals Daily.
New Issue: University of Washington prices $218.27 million general revenue bonds
By Sheri Kasprzak
New York, Jan. 22 – The University of Washington sold $218.27 million of series 2015 general revenue bonds, according to a pricing sheet.
The deal included $47,715,000 of series 2015A taxable bonds and $170,555,000 of series 2015B refunding bonds.
The 2015A bonds are due 2015 to 2024 with term bonds due in 2029, 2034 and 2044. The serial coupons range from 0.45% to 2.717%, all priced at par. The 2029 bonds have a 3.217% coupon priced at par, the 2034 bonds have a 3.404% coupon priced at 98.579 to yield 3.504%, and the 2044 bonds have a 3.704% coupon priced at par.
The 2015B bonds are due 2016 to 2037 with 2% to 5% coupons and yields from 0.32% to 3.18%.
The bonds (Aaa) were sold through Citigroup Global Markets Inc.
Proceeds will be used to acquire and improve facilities in downtown Seattle, as well as to refund the university’s series 2005 and 2006 general revenue bonds.
Issuer: | University of Washington
|
Issue: | Series 2015 general revenue bonds
|
Amount: | $218.27 million
|
Type: | Negotiated
|
Underwriters: | Citigroup Global Markets Inc. (lead), J.P. Morgan Securities LLC and Drexel Hamilton LLC (co-managers)
|
Rating: | Moody’s: Aaa
|
Pricing date: | Jan. 22
|
Settlement date: | March 4
|
|
$47,715,000 series 2015A taxable general revenue and refunding bonds
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$3.58 million | 2015 | Serial | 0.45% | 100 | 0.45%
|
$3.6 million | 2016 | Serial | 0.611% | 100 | 0.611%
|
$3.79 million | 2017 | Serial | 0.911% | 100 | 0.911%
|
$930,000 | 2018 | Serial | 1.42% | 100 | 1.42%
|
$945,000 | 2019 | Serial | 1.799% | 100 | 1.799%
|
$965,000 | 2020 | Serial | 1.999% | 100 | 1.999%
|
$985,000 | 2021 | Serial | 2.312% | 100 | 2.312%
|
$1.01 million | 2022 | Serial | 2.462% | 100 | 2.462%
|
$1.04 million | 2023 | Serial | 2.617% | 100 | 2.617%
|
$1,065,000 | 2024 | Serial | 2.717% | 100 | 2.717%
|
$5.86 million | 2029 | Term | 3.217% | 100 | 3.217%
|
$6,905,000 | 2034 | Term | 3.404% | 98.579 | 3.504%
|
$17.04 million | 2044 | Term | 3.704% | 100 | 3.704%
|
|
$170,555,000 series 2015B refunding bonds
|
Amount | Maturity | Type | Coupon | Price | Yield
|
$1,865,000 | 2016 | Serial | 2% | 102.08 | 0.32%
|
$1,895,000 | 2017 | Serial | 3% | 105.427 | 0.56%
|
$4.81 million | 2018 | Serial | 5% | 113.481 | 0.78%
|
$5.06 million | 2019 | Serial | 5% | 116.615 | 0.99%
|
$5.3 million | 2020 | Serial | 5% | 119.584 | 1.14%
|
$5.57 million | 2021 | Serial | 5% | 121.442 | 1.40%
|
$5.85 million | 2022 | Serial | 5% | 122.775 | 1.65%
|
$6.14 million | 2023 | Serial | 4% | 116.528 | 1.83%
|
$6,385,000 | 2024 | Serial | 5% | 125.579 | 1.96%
|
$6,705,000 | 2025 | Serial | 4% | 117.625 | 2.08%
|
$6.97 million | 2026 | Serial | 5% | 125.442 | 2.21%
|
$7.32 million | 2027 | Serial | 5% | 124.199 | 2.33%
|
$7,685,000 | 2028 | Serial | 5% | 123.378 | 2.41%
|
$2.5 million | 2029 | Serial | 2.9% | 100 | 2.90%
|
$5,575,000 | 2029 | Serial | 5% | 122.868 | 2.46%
|
$8.42 million | 2030 | Serial | 3.05% | 100 | 3.05%
|
$5,815,000 | 2031 | Serial | 5% | 121.654 | 2.58%
|
$6.1 million | 2032 | Serial | 5% | 121.153 | 2.63%
|
$6.41 million | 2033 | Serial | 5% | 120.654 | 2.68%
|
$6.73 million | 2034 | Serial | 4% | 107.842 | 3.10%
|
$7 million | 2035 | Serial | 4% | 107.478 | 3.14%
|
$7,285,000 | 2036 | Serial | 4% | 107.297 | 3.16%
|
$25 million | 2037 | Serial | 4% | 107.116 | 3.18%
|
$18,165,000 | 2037 | Serial | 5% | 119.467 | 2.80%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.