Published on 11/1/2012 in the Prospect News Municipals Daily.
New Issue: Miami University, Ohio, brings $116.07 million general receipts bonds
By Sheri Kasprzak
New York, Nov. 1 - The Miami University of Ohio sold $116,065,000 of series 2012 general receipts revenue bonds, according to a pricing sheet.
The bonds (Aa3//AA) were sold through Fifth Third Securities Inc.
The bonds are due 2014 to 2034 with a term bond due in 2037. The serial coupons range from 3% to 5% and yields range from 0.45% to 3.43%. The 2027 bonds have a 3.5% coupon priced at par.
Proceeds will be used to renovate the university's housing and dining facilities.
| Issuer: | Miami University
|
| Issue: | Series 2012 general receipts revenue bonds
|
| Amount: | $116,065,000
|
| Type: | Negotiated
|
| Underwriters: | Fifth Third Securities Inc. (lead), Barclays, Morgan Stanley & Co. LLC and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Ratings: | Moody's: Aa3
|
| Fitch: AA
|
| Pricing date: | Oct. 24
|
| Settlement date: | Nov. 27
|
|
|
| Amount | Maturity | Type | Coupon | Price | Yield
|
| $3.25 million | 2014 | Serial | 3% | 104.467 | 0.45%
|
| $3,345,000 | 2015 | Serial | 3% | 106.561 | 0.60%
|
| $3.45 million | 2016 | Serial | 3% | 108.095 | 0.81%
|
| $3.57 million | 2017 | Serial | 4% | 114.063 | 0.97%
|
| $3,715,000 | 2018 | Serial | 4% | 115.781 | 1.16%
|
| $4.89 million | 2019 | Serial | 4% | 116.574 | 1.42%
|
| $5,115,000 | 2020 | Serial | 5% | 123.487 | 1.75%
|
| $5,375,000 | 2021 | Serial | 5% | 123.634 | 2.04%
|
| $5,655,000 | 2022 | Serial | 5% | 129.074 | 2.24%
|
| $5,915,000 | 2023 | Serial | 4% | 113.102 | 2.48%
|
| $3,755,000 | 2024 | Serial | 4% | 111.632 | 2.64%
|
| $3.91 million | 2025 | Serial | 4% | 110.363 | 2.78%
|
| $4.07 million | 2026 | Serial | 4% | 109.467 | 2.88%
|
| $1,365,000 | 2027 | Serial | 3% | 98.702 | 3.11%
|
| $2,865,000 | 2027 | Serial | 4% | 108.575 | 2.96%
|
| $4,395,000 | 2028 | Serial | 4% | 108.492 | 2.99%
|
| $4,575,000 | 2029 | Serial | 4% | 108.052 | 3.04%
|
| $4.74 million | 2030 | Serial | 3.125% | 97.790 | 3.29%
|
| $4.91 million | 2031 | Serial | 4% | 107.004 | 3.16%
|
| $5.11 million | 2032 | Serial | 4% | 106.484 | 3.22%
|
| $5.32 million | 2033 | Serial | 4% | 105.968 | 3.28%
|
| $5,515,000 | 2034 | Serial | 3.25% | 97.252 | 3.43%
|
| $21,255,000 | 2037 | Term | 3.5% | 100 | 3.50%
|
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