New Jersey Educational arranges $85 million of Kean University bonds

By Sheri Kasprzak

New York, Aug. 6 – The New Jersey Educational Facilities Authority is expected to price $85 million of series 2015H revenue refunding bonds for Kean University, according to a preliminary official statement.

The bonds (A2/A-/) will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager and Ramirez & Co. Inc. and Wells Fargo Securities LLC as the co-managers.

The maturities have not been set.

Proceeds will be used to refund the university’s series 1991B, 1993G, 1998B, 2003B, 2005B and 2007D revenue bonds.

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