New Jersey City University to price $77.11 million revenue refunding bonds Wednesday

By Sheri Kasprzak

New York, April 11 - The New Jersey City University plans to price $77.11 million in series 2008 revenue refunding bonds on Wednesday, a preliminary official statement said.

The offering will be conducted through the New Jersey Educational Facilities Authority.

The sale includes $70.965 million in series 2008E bonds and $6.145 million in series 2008F bonds.

The bonds (Aaa//AAA) will be sold on a negotiated basis with Morgan Stanley as the lead manager. The co-managers are Merrill Lynch and Ramirez & Co.

The series 2008E bonds are due from 2009 to 2019 with term bonds due 2023, 2028 and 2035. The series 2008F bonds are due 2036.

Proceeds will be used to refund the university's existing series 2003A, 2005A and 2006C bonds.

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