Toledo University Student Housing Revenue Bonds (OH)
NAME: Toledo University Student Housing Revenue Bonds (OH)
BONDHOLDER SECURITY: Secured by revenues collected from the Honors Academic Village residential hall.
USE OF BOND PROCEEDS: A portion of the proceeds of the Series 2014A and 2014B Bonds will be deposited into the Construction Fund, Capitalized Interest Account, Debt Service Reserve Fund, and the Issuance Costs Fund.
RATINGS: BBB- (S&P: stable outlook as of 5/1/14)
Baa3 (Moody's as of 4/10/14)
OBLIGOR PROFILE: The University of Toledo is a public research university located in Toledo, Ohio. Founded in 1872, UT is a member of the state university system which includes 14 other Ohio universities. UT services 20,831 students offering both part-time and full-time options of study. The Series 2014 Project aims to provide residential housing for the students of Toledo University in the form of semi-suite and suite-style units. Although the Project is intended for students in the Honors College, all students are eligible to live in the new housing.
- The University requires all first-year students that live outside a 50-mile radius from the University to live on campus
- Enrollment increased ~2% YOY in 2016
- New President as of 2015
- The Honors Academic Village (new residential hall) is gorgeous
- Current occupancy this Spring is 93.28%
- Endowment stands at $416.2 million
(Source: Official Statement dated May 1, 2014)
Although this information is obtained from sources believed to be reliable, we cannot guarantee its completeness or accuracy. For complete information regarding these bonds, please review the Official Statement, which can be provided upon request. Investing in bonds involves risk including possible loss of principal. Income may be subject to state, local, or federal alternative minimum tax. Offerings are subject to prior sale and market conditions. Bonds are subject to availability and price fluctuations. As with any investment, market values may fluctuate during the period the bonds are held. For specific yield and suitability of this offering, please contact your R. Seelaus & Co. Financial Advisor at 1-800-922-0584. Securities are offered through R. Seelaus & Co. 25 Deforest Ave. Suite 304, Summit, NJ 07901 Member FINRA/SIPC