University of Alabama to price $289.6 million of revenue bonds Tuesday

By Sheri Kasprzak

New York, Oct. 1 - The Board of Trustees of the University of Alabama plans to price $289.6 million of series 2012 general revenue bonds on Tuesday, according to a preliminary official statement.

The offering includes $268.55 million of series 2012A bonds and $21.05 million of series 2012B bonds.

The bonds (Aa2/AA-/) will be sold competitively with Raymond James/Morgan Keegan as the financial adviser.

The 2012A bonds are due 2014 to 2042, and the 2012B bonds are due 2013 to 2019.

Proceeds will be used to finance capital improvements to the university, including the construction of a new student housing development on the banks of the Black Warrior River, the renovation of the Ferguson Center, a student center, a parking deck, renovations to other facilities, maintenance to university buildings, as well as to refund the university's series 2001 and 2004A bonds.

© 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.