Iowa Higher Education Loan Authority plans to sell $50.17 million Central College bonds

By Sheri Kasprzak

New York, May 18 - The Iowa Higher Education Loan Authority is expected to price $50.17 million of series 2012 private college facility revenue refunding bonds, according to a preliminary official statement.

The deal includes $35.53 million of series 2012A bonds and $14.64 million of series 2012B bonds.

The bonds (Baa3) will be sold on a negotiated basis with Piper Jaffray & Co. as the lead manager.

The 2012A bonds are due 2014 to 2022 with term bonds due in 2027 and 2031. The 2012B bonds are due Oct. 1, 2038.

Proceeds will be used to construct, improve and equip a fitness center at Central College, as well as to refund the authority's series 1985, 2001 and 2008 revenue bonds.

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