Fordham University of New York plans to price $97.2 million in revenue bonds May 20

By Sheri Kasprzak

New York, May 13 - Fordham University of New York plans to sell $97.2 million in series 2008 variable-rate private university revenue bonds, a source connected to the sale confirmed with Prospect News Tuesday.

"May 20 is tentative," the source said. "I can't comment further on the sale at this time."

The bonds (A2//) will be sold through the Dormitory Authority of the State of New York on a negotiated basis.

The sale includes $48.6 million in series 2008A-1 bonds and $48.6 million in series 2008A-2 bonds.

Merrill Lynch is the lead manager for the 2008A-1 bonds, and Citigroup Global Markets is the senior manager for the 2008A-2 bonds.

Proceeds from the deal will be used to refund the university's series 2005A auction-rate bonds.

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