Ringling College of Art and Design, Fla., to sell $52.5 million bonds

By Sheri Kasprzak

New York, June 20 - The Ringling College of Art and Design in Florida intends to sell $52.5 million in series 2008 educational facilities variable-rate revenue bonds, said a preliminary official statement.

The bonds (/AA-/A-1+/) will be sold through the Higher Educational Facilities Financing Authority of Florida.

The bonds are due March 1, 2038 and initially bear interest at the weekly rate.

SunTrust Robinson Humphrey is the lead manager for the negotiated offering.

Proceeds will be used for the acquisition, construction and equipment of a five-story student residence, a five-story academic building, the renovation of existing facilities and the acquisition of land.

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