Wayne State University expects to sell $177 million general revenue bonds on March 12

By Cristal Cody

Springdale, Ark., Feb. 29 - Wayne State University in Michigan plans to price $177 million general revenue bonds on March 12, the issuer said Friday.

The series 2008 bonds received an Aa3 rating Friday from Moody's Investors Service.

The maturities have not been set, said Roger Kempa, the university's assistant treasurer.

Goldman, Sachs & Co. is the underwriter of the negotiated sale.

Proceeds will be used to refund previously issued debt and finance the cost of swap termination payments.

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