Wayne State University, Mich., coordinates $81.63 million bond deal

By Sheri Kasprzak

New York, May 6 - The Wayne State University of Michigan plans to sell $81.63 million of series 2013A general revenue bonds, according to a preliminary official statement.

The bonds (Aa2/AA-/) will be sold on a negotiated basis with BofA Merrill Lynch and PNC Capital Markets LLC as the senior managers.

The bonds are due 2015 to 2034 with term bonds due in 2039 and 2044.

Proceeds will be used to construct and equip a multidisciplinary biomedical research center, renovate classrooms, construct a new laboratory and make upgrades to the electrical system.

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