Westchester Local Development, N.Y., to sell $110 million Pace bonds

By Sheri Kasprzak

New York, March 12 - The Westchester County Local Development Corp. of New York is slated to price $110 million of series 2014 revenue bonds for Pace University, according to a preliminary official statement.

The offering includes $80 million of series 2014A bonds and $30 million of series 2014B bonds.

The bonds (/BB+/) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager.

The maturities have not been set.

Proceeds will be used to finance the construction, acquisition and equipment of academic, business, residential, athletic and research facilities at the university's Pleasantville campus.

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