Troy, N.Y., to price $350 million in revenue bonds for Rensselaer Polytechnic Institute

By Sheri Kasprzak

New York, April 5 - The City of Troy, N.Y., plans to sell $350 million capital resource corporation revenue bonds on Thursday for Rensselaer Polytechnic Institute, said a preliminary official statement.

The bonds (A3/A/) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager. The co-manager is M&T Securities Inc.

The sale includes $300 million in series 2010A bonds and $50 million in series 2010B bonds.

The maturities have not yet been set.

Proceeds will be used to refund Rensselaer Polytechnic's outstanding series 2002B-D bonds, 2007 bonds and 2008 bonds.

Rensselaer Polytechnic, based in Troy, is a private research university.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.