Pennsylvania Higher Education to sell $123.64 million bonds June 30

By Sheri Kasprzak

New York, June 22 - The Pennsylvania Higher Educational Facilities Authority is planning to sell $123.64 million in series AJ state system of higher education revenue bonds on June 30, according to a preliminary official statement.

The bonds (Aa3/AA-/) will be sold competitively with RBC Capital Markets Corp. as the financial adviser.

The bonds are due 2010 to 2039.

Proceeds will be used to fund a campus revitalization project, including the demolition of old facilities and the construction of new buildings, as well as the maintenance of faculty buildings, dormitories, faculty apartments and a laboratory building.

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