North Carolina Capital Facilities offers $175 million Wake Forest University bonds

By Cristal Cody

Eureka Springs, Ark., June 30 – North Carolina Capital Facilities Finance Agency intends to price $175 million of series 2016 education facilities revenue and revenue refunding bonds (Aa3/AA/) for Wake Forest University, according to a preliminary official statement.

The bonds have serial maturities from Jan. 1, 2021 through Jan. 1, 2039 and a term bond due Jan. 1, 2046.

Wells Fargo Securities, LLC is the senior manager of the negotiated offering. BB&T Capital Markets and Morgan Stanley & Co., LLC are the co-managers.

Proceeds will be used to advance refund the university’s series 2009 revenue bonds, to repay a portion of a line of credit with Branch Banking and Trust Co and to pay the balance of university construction and improvements costs.

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