University of Miami to sell $340 million revenue bonds in two tranches

By Cristal Cody

Springdale, Ark., March 24 - The University of Miami plans to price $340 million of revenue bonds on April 2, a source said Monday.

The series 2008A and 2008B bonds (A2) will be sold through the Miami-Dade County Educational Facilities Authority.

The series 2008B bonds are taxable.

Morgan Stanley is the underwriter for the negotiated sale.

Proceeds will be used to refund a bank credit facility that was used to finance the acquisition of Cedars Medical Center and various capital improvements to the facility.

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