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Connecticut State University System Issue, Series Q

Borrower: 
Connecticut State University System
Par Amount: 
$92,105,000
Purpose: 

Bond proceeds provided for the partial refunding of the System's 2007 Series I bond issue, and to fund a variety of projects at the four universities.  The largest projects consist of a renovation project at WCSU to convert a classroom building into a new student center, and construction of a new parking garage with approximately 600 spaces at CCSU.

The bonds were sold via a competitive sale, with UBS Financial Services as the winning bidder for the Series Q-1 issue, and Bank of America Merrill Lynch as the winning bidder for the Series Q-2 issue.  The refunding achieved over $3.8 million in net present value savings.

Underwriter/Placement Agent: 
Series Q-1: UBS Financial Services Series Q-2: Wells Fargo Securities
Closing Date: 
May 10, 2019
Final Maturity: 
November 1, 2039
Yield: 
Series Q-1: 3.02% Series Q-2: 2.72%

For further information, search EMMA for this issue.