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Yale University plans to convert $200 million auction rate revenue bonds to fixed rate
By Cristal Cody
Springdale, Ark., March 10 - Yale University plans to convert $200 million auction rate revenue bonds to a fixed rate, according to a preliminary remarketing memorandum released Monday.
The series Z-2 and Z-3 bonds (Aaa/AAA/-) were sold through the Connecticut Health and Educational Facilities Authority on Oct. 4, 2007.
Series Z-3 bonds will convert on March 26, and series Z-2 bonds will convert on March 28.
The bonds are due July 1, 2042.
Lehman Brothers and JPMorgan are the remarketing agents.
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