Clark University, Mass., reschedules pricing of $50.3 million variable-rate bonds

By Cristal Cody

Springdale, Ark., April 4 - Clark University in Massachusetts expects to price $50.3 million of variable-rate bonds on Monday, a sellside source said Friday.

The series 2008 bonds (Aaa) will price in a weekly mode through the Massachusetts Development Finance Agency.

The bonds had been scheduled to price sometime this week, James Collins, executive vice president and treasurer of the university, said in an earlier interview.

UBS Investment Bank will manage the negotiated sale.

Proceeds will be used to refund series 2000, 2002A and 2002B bonds, pay the termination fee on a swap for the series 2002A bonds and fund renovations of the Goddard Library.

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