Ivy Tech Community College, Ind., delays sale of $65.88 million bonds

By Cristal Cody

Springdale, Ark., Aug. 8 - Ivy Tech Community College in Indiana pushed back the sale of $65.875 million student fee revenue bonds to the week of Aug. 18, according to a sale calendar.

The series 2008L bonds (/AA-/AA-) had been expected to price during the Aug. 4 week.

The bonds have serial maturities from 2009 through 2027.

City Securities Corp. is the senior manager of the negotiated sale. Lehman Brothers, PNC Capital Markets LLC, Edward D. Jones & Co. and Backstrom McCarley Berry & Co. are co-managers. Proceeds will be used to refund the outstanding series E bonds, refinance the outstanding Fairbanks interim bank loan and fund construction of new facilities and improvements at the college's Logansport and Fort Wayne campuses and the Greencastle extension center.

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