DePaul University of Illinois to price $50.035 million revenue bonds June 3

By Sheri Kasprzak

New York, May 21 - DePaul University in Illinois intends to sell $50.035 million of series 2008 private higher education revenue bonds on June 3, said a sell-side source connected to the sale.

The bonds (A3//A-) will be sold on a negotiated basis with Lehman Brothers as the senior manager.

The bonds will be sold through the Illinois Finance Authority.

Proceeds will be used to acquire educational facilities used by the university and leased under a sale-leaseback arrangement. The proceeds will also refund the authority's series 1998C-D, series 2003A-B and series 2003C-D bonds.

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