William Paterson University, N.J., to sell $89.24 million revenue bonds

By Cristal Cody

Springdale, Ark., June 13 - William Paterson University of New Jersey plans to price $89.235 million revenue bonds in the June 16 week, a source involved in the sale said Friday.

The series 2008C bonds (Aaa/AAA/) will price through the New Jersey Educational Facilities Authority.

The bonds have serial maturities from 2009 through 2026 and term bonds in 2030, 2033 and 2038.

The bonds are insured by Assured Guaranty Corp.

RBC Capital Markets is the senior manager of the negotiated sale. Co-managers are Banc of America Securities LLC, Prager Sealy & Co. and Siebert Brandford Shank & Co.

Proceeds will be used to finance a three-story science hall addition for research space, classrooms and teaching labs and to refund the outstanding series 1998D revenue bonds.

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