Indiana University moves up pricing of $181 million revenue bonds to Thursday

By Cristal Cody

Springdale, Ark., Jan. 23 - Indiana University plans to price $181 million of consolidated revenue bonds on Thursday, according to a market source.

The university is sell the series 2008A bonds Thursday and also plans to sell $87 million in student fee bonds, series S, on Feb. 7, the source said.

Lehman Brothers is underwriting the series 2008A bonds, while JPMorgan Chase & Co. is managing the series S bonds.

The university had initially expected to price both bonds in February.

Proceeds from the student fee bonds will be used to refund outstanding tax-exempt commercial paper and finance the costs of new projects, including a cyber-infrastructure building, a new science building on the Bloomington campus and a new medical education center on the Fort Wayne campus.

Moody's Investors Service assigned an Aa1 long-term rating to Indiana University's total $268 million in student fee and consolidated revenue bonds.

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