Life University, Ga., to price $70.04 million facilities and refunding bonds

By Cristal Cody

Springdale, Ark., July 22 - Life University plans to price $70.04 million university facilities and refunding bonds through the Development Authority of the City of Marietta, Ga., according to a preliminary official statement.

The series 2008 bonds have terms due 2018, 2028 and 2039.

Citigroup Global Markets will manage the negotiated sale.

Proceeds will be used to refund the outstanding $9.555 million series 1995A refunding first mortgage revenue bonds and the outstanding $17.15 million from series 1995B.

Proceeds also will be used to finance construction and renovation projects for the university, including a 300-bed student housing facility and a 600-space parking deck.

Calls for additional information were not returned by press time.

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