Waco Education Finance, Texas, to price $103.85 million revenue bonds for Baylor University

By Sheri Kasprzak

New York, Nov. 12 - The Waco Education Finance Corp. of Texas is set to sell $103.85 million of series 2010 tax-exempt revenue and refunding bonds for Baylor University, according to a preliminary official statement.

The bonds (/AA-/AA-) will be sold on a negotiated basis with Barclays Capital Inc. and Bank of America Merrill Lynch as the co-lead managers.

The bonds are due 2011 to 2025 with term bonds due 2032 and 2040.

Proceeds will be used to finance the construction of a new athletic-academic complex on the Baylor campus, to acquire real property for the university, to refund the university's series 2008B bonds and to refinance its series A commercial paper.

Baylor University is based in Waco, Texas.

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