University of Connecticut
General Obligation Bonds
2020 Series A and 2020 Refunding Series A
The Treasurer of the State of Connecticut on behalf of the University of Connecticut announces a $288,280,000* University of Connecticut General Obligation Bond Sale with a three day offering period beginning on December 4, 2020. During the first two days of the sale, priority is given to orders from individual investors; priority on the third day of the sale is given to institutional investors. The 2020 Series A Bonds will finance projects included in the UConn 2000 Infrastructure Improvement Program, a $4.6 billion, 32-year program to renew, rebuild and enhance the University’s campuses. The 2020 Refunding Series A Bonds will refund certain outstanding bonds for debt service savings.
Before you buy any bonds, you should read the related Preliminary and final Official Statement, which will contain all available information about the bonds.
See the Official Statement for further and detailed information regarding the tax status of the bonds. Before deciding to purchase any bonds, investors should consult their tax advisors to determine the applicable federal, state and local tax consequences of owning any bonds.
|Expected Retail Order Period:||Friday, December 4, 2020 and
Monday, December 7, 2020
|Expected Institutional Pricing:||Tuesday, December 8, 2020|
|Expected Closing and Delivery Date:||Thursday, December 17, 2020|
|Par Amount 2020 Series A and 2020 Series A Refunding:||$288,280,000*|
|Security:||General Obligation of the University. Additionally secured by the State’s commitment to pay debt service on the 2020 Series A and 2020 Refunding Series A Bonds.|
|Expected Structure:||Serial Maturities 2022 – 2041*|
|Principal Due Date:||February 15th|
|Interest Payment Dates:||Semiannually on February 15th and August 15th in each year commencing February 15, 2021|
|Optional Redemption:||To be determined at the time of pricing|
|Type of Securities Offered:||Fixed Rate Bonds|
|Denominations:||$5,000, or any integral multiples thereof|
|Expected Tax Status:||Interest on the Bonds is exempt from Federal
income tax and, for Connecticut residents, is
also State tax-exempt.
|Bond Ratings:||Moody’s: A1
Standard & Poor’s: A+
|Preliminary Official Statement:||Preliminary Official Statement|
*Preliminary, subject to change.