New Jersey Educational Facilities offers $69.46 million bonds for Institute of Technology

By Sheri Kasprzak

New York, Oct. 27 - The New Jersey Educational Facilities Authority is expected to price $69.46 million in series 2010 revenue bonds for the New Jersey Institute of Technology, according to a preliminary official statement.

The sale includes $49.01 million in series 2010H tax-exempt bonds and $20.45 million in series 2010I Build America Bonds.

Morgan Stanley & Co. Inc. is the senior manager. The co-managers are Fidelity Capital Markets LLC, Raymond James & Associates Inc. and Rice Financial Products Co.

The 2010H bonds are due 2015 to 2025 with a term bond due 2031. The 2010I bonds are due 2040.

Proceeds will be used to finance capital projects at the New Jersey Institute of Technology, as well as to refund the authority's series 2001G-H and 2004B bonds.

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