SPOKANE, Wash., Jan. 22, 2026 /PRNewswire/ — The Corporation of Gonzaga University (“Gonzaga University” or the “University”) today announced tender results and pricing information.
Pursuant to the Invitation to Tender dated January 5, 2026 (as it may be amended or supplemented, the “Invitation”), the University invited Bondholders to tender, subject to the Aggregate Tender Cap, its Revenue and Refunding Taxable Bonds, Series 2016A (the “Securities”) for cash at the purchase price based on a fixed spread over Reference Yields based on the bid side price of the applicable U.S. Treasury Reference Security, plus accrued and unpaid interest on such Securities tendered for purchase from and including the most recent interest payment date to but excluding the Settlement Date, and on the terms and as further described in the Invitation. All capitalized terms used herein and not otherwise defined are used as defined in the Invitation.
As set forth in the Invitation, the tender offer was subject to an Aggregate Tender Cap of $50,000,000. At the conclusion of the Early Tender Date, the University has decided to accept all tender offers that were validly tendered and not validly withdrawn prior to the Early Tender Date. In addition, the University has determined that it will not accept for purchase any Securities tendered after the Early Tender Date. The Early Tender Date occurred at 5:00 p.m., New York City time, on January 20, 2026 and has not been extended.
The Reference Yield and Total Consideration for Securities tendered at or prior to the Early Tender Date and accepted for purchase by the University were determined at approximately 10:00 a.m., New York City time, on January 22, 2026, and are listed in the table set forth below. Subject to satisfaction of the conditions set forth in the Invitation, the University intends to accept for purchase the aggregate principal amount of Securities tendered in the Invitation set forth in the table below.
The Settlement Date for the Securities is expected to be February 5, 2026 on which the University will provide payment of the Total Consideration plus Accrued Interest with respect to the following Securities that have been validly tendered prior to or at the Early Tender Date and accepted for purchase.
|
CUSIP No.(1) |
Principal |
Principal Amount Tendered |
Principal Amount Accepted for Purchase |
Maturity Date |
Interest Rate |
Reference Yield (2) |
Fixed Spread |
Early Tender Payment |
Total Consideration(3) |
|
220062AA1 |
$108,275,000 |
$3,095,000 |
$3,095,000 |
2046 |
4.158 % |
4.844 % |
+110 bps |
$50 |
79.715 |
The tender offer is subject to the satisfaction or waiver of certain conditions as set forth in the Invitation. The tender offer is not subject to minimum tender conditions. As described in the Invitation, the University has elected to apply purchases of certain Securities to sinking fund installments on proration basis as set forth in Appendix A attached hereto.
Information Relating to the Tender Offer
The University commenced the tender offer on January 5, 2026. Morgan Stanley & Co. LLC (the “Dealer Manager”) is the dealer manager for the tender offer. Investors with questions regarding the tender offer may contact the Dealer Manager at (212) 761-9085 or by email at [email protected]. Globic Advisors Inc. is the tender and information agent for the tender offer (the “Tender and Information Agent”) and can be contacted at (212) 227-9699 or by email at [email protected].
The full details of the tender offer are included in the Invitation. Holders are strongly encouraged to read carefully the Invitation, including materials incorporated by reference therein, because they will contain important information. The Invitation may be obtained from Globic Advisors Inc., by calling (212) 227-9699, by emailing [email protected] or by visiting www.globic.com/gonzaga.
About Gonzaga University
Certain information relating to the Securities and the University may be obtained by contacting the Tender and Information Agent. Such information is limited to (i) the Invitation, and (ii) information about the University available through the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access system (www.emma.msrb.org).
Forward-Looking Statements
Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts and assumptions by the University’s management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation, the bondholders’ risks set forth in the offering document attached to the Invitation as Appendix A. The University cannot be certain that any expectations, forecasts or assumptions made by management in preparing these forward-looking statements will prove accurate, or that any projections will be realized. It is to be expected that there may be differences between projected and actual results. Any forward-looking statement speaks only as of the date on which it is made, and the University assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
|
Appendix A |
|||
|
Sinking Fund Installment Allocations |
|||
|
Sinking Fund Redemption Date (April 1) |
Outstanding Sinking Fund Installments |
Application of Purchases |
Remaining Sinking Fund Installments |
|
2044 |
$34,630,000 |
$990,000 |
$33,640,000 |
|
2045 |
$36,070,000 |
$1,031,000 |
$35,039,000 |
|
2046 |
$37,575,000 |
$1,074,000 |
$36,501,000 |
|
Total |
$108,275,000 |
$3,095,000 |
$105,180,000 |
(1) CUSIP is a registered trademark of the American Bankers Association (the “ABA”). CUSIP data herein is provided by CUSIP Global Services (“CGS”), managed on behalf of the American Bankers Association by FactSet Research Systems Inc. The CUSIP number listed above is being provided solely for convenience of reference and neither the University, the Dealer Manager, the Tender and Information Agent, nor their respective agents or counsel make any representation with respect to such number or undertake any responsibility for its accuracy.
(2) The Reference Yield is based on the respective U.S. Treasury Reference Security set forth in the Invitation.
(3) Applies to Securities tendered at or prior to the Early Tender Date and accepted for purchase. The Total Consideration excludes accrued interest on the Securities tendered for purchase, which accrued interest will be paid in addition to the Total Consideration on the Settlement Date.
SOURCE The Corporation of Gonzaga University