Wayne State University, Mich., organizes $50.62 million revenue bonds

By Sheri Kasprzak

New York, Dec. 15 – The Board of Governors of Wayne State University of Michigan is scheduled to price $50.62 million of series 2015A general revenue and refunding bonds on Wednesday, according to a preliminary official statement.

The bonds (Aa3/AA-/) will be sold through lead manager BofA Merrill Lynch.

The bonds are due 2015 to 2034 with a term bond due in 2036.

Proceeds will be used to renovate university research laboratories and to acquire properties for use by the university, as well as to refund the university’s series 2006 general revenue bonds.

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