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Yale University, Conn., to convert $250 million revenue bonds to fixed rate
By Cristal Cody
Springdale, Ark., April 4 - Yale University intends to convert $250 million of revenue bonds from a daily rate to a fixed rate on May 1.
The $125 million series T1 bonds were issued in 1997. The bonds are due July 1, 2020.
The $125 million series X3 bonds, issued in 2003, are due July 1, 2037.
The bonds (Aaa/AAA/) priced through the Connecticut Health and Educational Facilities Authority, according to a reoffering memorandum released Thursday.
J.P. Morgan Securities Inc. and Lehman Brothers are the remarketing agents.
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