Northeastern University in Massachusetts plans to price $360.13 million revenue bonds

By Cristal Cody

Springdale, Ark., May 7 - Northeastern University plans to price $360.125 million revenue bonds through the Massachusetts Health and Educational Facilities Authority, according to a preliminary official statement.

The sale includes $93.74 million series 2008R bonds and $56.385 million series 2008S fixed-rate bonds and $210 million series 2008T variable-rate bonds.

The series 2008R bonds have serial maturities from Oct. 1, 2008 through Oct. 1, 2023 and term bonds in 2028 and 2033.

The series 2008S bonds are due Oct. 1, 2012.

The series 2008T bonds, due Oct. 1, 2037, initially will price with a term rate.

Lehman Brothers will manage the negotiated sale.

Proceeds will be used to refund the series N, series 2005O and series 2007P auction-rate bonds and to pay the costs of terminating the swaps on the series N and series 2005O bonds.

Calls for additional information were not immediately returned.

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