For Immediate Release 10 July, 2002 |
State Treasurer Grady Patterson Issues$13.8 Million in USC Bond Anticipation Notes (BAN)
Columbia, SC - State Treasurer Grady L. Patterson, Jr. issued $13.8 million in bond anticipation notes (BAN) today to benefit the University of South Carolina - Columbia campus. Bids on these notes reflect the importance of the State’s AAA credit rating.
These notes will help cover the costs of new and renovated student housing. Projects include: construction of a new housing facility, known as West Quadrangle, to accommodate approximately 1,340 students; renovation projects at Capstone Building, Columbia Hall, Sims Hall, Wade Hampton, Bates West, McBryde Dormitory, the Roost Dormitory and McClintock Hall. State Treasurer Patterson stated, "These projects that are being funded today will help bring top quality students to a top quality institution."
BB&T Capital Markets submitted the winning bid for this BAN issue at a rate of 1.538%. The notes, series 2002A, have a one year maturity.
"We are pleased to assist the University of South Carolina as it continues to grow. The University is providing a great educational opportunity for many of our state and country’s future stars. The State Treasurer’s Office is committed to helping ensure those opportunities are readily available and attainable by our students," said State Treasurer Patterson.
For more information contact:
Brent Weaver (803) 734-2665