Bond Series: 2012 Series A & 2012 Series B
Closed: 2012 Series A - Closed April 10, 2012 and 2012 Series B - Closed August 7, 2012
Bond Size: $58,035,000 (Series A $46,150,000 and Series B $11,855,000)
Credit Rating: S&P AA and Moody’s Aa2
Credit Enhancement: None
Underwriter: Goldman, Sachs & Co.
Interest Rate: Fixed Rate, Tax-Exempt
Final Maturity: 2032
Yield: 1.45% to 3.54%
Purpose: i) Refund the College’s 2002 Series A bonds and ii) Pay certain costs associated with issuing the Bonds.
Project Benefit: The refund is expected to generate an estimated total cash flow savings of almost $21 million.
Economic Benefits: N/A