Yale University Issue, Series 2016A
Borrower:
Yale University
Par Amount:
$399,320,000
Purpose:
Bond proceeds financed the refunding of the University's 2007 Series Z-1 issue. The $150 million Series 2016 A-1 was structured with a 3-year put option, and the $249.3 million Series 2016 A-2 was structured with a 10-year put option. The Net Interest Cost for the new issues was 1.50%, compared to 4.44% on the refunded bonds.
Underwriter/Placement Agent:
Barclays
Closing Date:
July 1, 2016
Final Maturity:
July 1, 2042
Yield:
1.51%
Anticipated Board Approval:
Wednesday, June 15, 2016
For further information, search EMMA for this issue.