Vanderbilt University, Tenn., to price $353.31 million in revenue refunding bonds

By Sheri Kasprzak

New York, March 28 - The Health and Educational Facilities Board of the Metropolitan Government of Nashville and Davidson County in Tennessee will price $353.31 million in revenue refunding bonds for Vanderbilt University, a preliminary official statement said.

The offering includes series 2008A-1, 2008B-1 and 2008C-1 bonds, all of which are fixed-rate bonds, and series 2008A-2, 2008B-2 and 2008C-2 bonds, all of which are term bonds.

The bonds (Aa2/AA/AA) will be sold on a negotiated basis through lead manager Merrill Lynch & Co. The co-managers are Goldman, Sachs & Co. and J.P. Morgan Securities Inc.

Proceeds from the sale will be used to retire commercial paper and refund the university's series 1997A and series 1998A revenue refunding bonds.

The exact pricing date was not immediately available.

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