Houston Higher Education Finance plans to price $97.23 million revenue bonds for Rice University

By Sheri Kasprzak

New York, May 12 - The Houston Higher Education Finance Corp. is expected to sell $97.225 million in series 2010A higher education revenue bonds for Rice University, according to a preliminary official statement.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Ramirez & Co. Inc. as the senior managers.

The maturities have not been set.

Proceeds from the sale will be used to construct a BioScience Research Collaborative to foster collaborative research between Rice University and the Texas Medical Center; to construct additional student housing; and to construct academic buildings at the university.

The corporation provides financing to universities and colleges within the city. The university is based in Houston.

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