By Sheri Kasprzak
New York, Feb. 25 – The Missouri Health and Educational Facilities Authority sold $402.92 million of series 2016A taxable educational facilities revenue bonds for the Washington University, according to a pricing sheet.
The bonds (Aaa/AAA) were sold through senior managers Wells Fargo Securities LLC and Goldman Sachs & Co.
The bonds are due in 2036 and 2046. The 2036 bonds have a 3.471% coupon and the 2046 bonds have a 3.651% coupon, both priced at par.
Proceeds will be used to finance capital improvements to the university, as well as to refund the authority’s series 2007A-B and 2008A revenue bonds.
Issuer: | Missouri Health and Educational Facilities Authority/Washington University
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Issue: | Series 2016A taxable educational facilities revenue bonds
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Amount: | $402.92 million
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Type: | Negotiated
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Underwriters: | Wells Fargo Securities LLC and Goldman Sachs & Co. (lead), J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (co-managers)
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Ratings: | Moody’s: Aaa
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| Standard & Poor’s: AAA
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Pricing date: | Feb. 18
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Settlement date: | Feb. 26
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Amount | Maturity | Type | Coupon | Price | Yield
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$109.3 million | 2036 | Term | 3.471% | 100 | 3.471%
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$293.62 million | 2046 | Term | 3.651% | 100 | 3.651%
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