By Sheri Kasprzak
New York, Nov. 15 - The Iowa Student Loan Liquidity Corp. came to market with $419.5 million of series 2011A student loan revenue bonds, according to a pricing sheet.
The bonds (/A/A) were sold through Morgan Stanley & Co. LLC.
The deal included $244.25 million of series 2011A-1 bonds and $175.25 million of series 2011A-2 bonds.
The 2011A-1 bonds are due 2013 to 2023 with 2.6% to 5.3% coupons, all priced at par. The 2011A-2 bonds are due 2023 to 2030 with coupons from 5.3% to 5.85% coupons, also priced at par.
Proceeds will be used to refinance eligible student loans.
| Issuer: | Iowa Student Loan Liquidity Corp.
|
| Issue: | Series 2011A student loan revenue bonds
|
| Amount: | $419.5 million
|
| Type: | Negotiated
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Ratings: | Standard & Poor's: A
|
| Fitch: A
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 22
|
|
|
| $244.25 million A-1 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.5 million | 2013 | Serial | 2.6% | 100
|
| $18.5 million | 2014 | Serial | 3.1% | 100
|
| $33.5 million | 2015 | Serial | 3.5% | 100
|
| $28 million | 2016 | Serial | 3.875% | 100
|
| $20 million | 2017 | Serial | 4.125% | 100
|
| $19.5 million | 2018 | Serial | 4.4% | 100
|
| $24.5 million | 2019 | Serial | 4.625% | 100
|
| $26.5 million | 2020 | Serial | 4.875% | 100
|
| $24 million | 2021 | Serial | 5% | 100
|
| $32 million | 2022 | Serial | 5.15% | 100
|
| $16.25 million | 2023 | Serial | 5.3% | 100
|
|
|
| $175.25 million series 2011A-2 bonds
|
| Amount | Maturity | Type | Coupon | Price
|
| $13.25 million | 2023 | Serial | 5.3% | 100
|
| $23.5 million | 2024 | Serial | 5.4% | 100
|
| $28.5 million | 2025 | Serial | 5.5% | 100
|
| $35 million | 2026 | Serial | 5.6% | 100
|
| $32 million | 2027 | Serial | 5.7% | 100
|
| $23 million | 2028 | Serial | 5.75% | 100
|
| $7 million | 2029 | Serial | 5.8% | 100
|
| $13 million | 2030 | Serial | 5.85% | 100
|
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