Volusia County Educational, Fla., preps $67.89 million bond offering

By Sheri Kasprzak

New York, March 2 – The Volusia County Educational Facilities Authority of Florida is set to price $67,885,000 of series 2015B educational facilities revenue bonds for the Embry-Riddle Aeronautical University, according to a preliminary official statement.

The bonds (Baa1//A-) will be sold on a negotiated basis with Morgan Stanley & Co. LLC and Raymond James/Morgan Keegan as the senior managers.

The maturities have not been set.

Proceeds will be used to finance capital improvements at the university’s Daytona Beach, Fla., and Prescott, Ariz., campuses.

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