Temple University, Pa., organizes $200 million sale of revenue bonds

By Sheri Kasprzak

New York, Sept. 10 - The Pennsylvania Higher Educational Facilities Authority is set to price $200 million of first series of 2012 Temple University revenue bonds, according to a preliminary official statement.

The bonds (Aa3/A+/) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager and Janney Montgomery Scott LLC and RBC Capital Markets LLC as the co-managers.

The bonds are due 2013 to 2032 with term bonds due in 2037 and 2042.

Proceeds will be used to finance or reimburse the university for the construction, equipment, acquisition and renovation of residence halls and a food service facility, a science, research and education center and a state-of-the-art library, as well as the construction of a new football facility and other capital improvements.

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