Rice University, Texas, organizes $115 million sale of refunding bonds

By Sheri Kasprzak

New York, June 5 - Rice University of Texas plans to sell $115 million of series 2013 taxable higher education revenue refunding bonds, according to a preliminary official statement.

The bonds (/AAA/) will be sold on a negotiated basis with J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as the senior managers. The co-managers are Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC.

The bonds are due May 15, 2063.

Proceeds will be used to refund the university's series 2008A revenue bonds sold through the Houston Higher Education Finance Corp., as well as to refund a portion of the university's commercial paper.

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