Two Rhode Island Colleges Looking Forward to $112M of Debt

D'Ambrosio, Gillian
June 2003
Bond Buyer;6/4/2003, Vol. 344 Issue 31649, p40
Trade Publication
As universities continue to take advantage of low interest rates and to issue debt to fund capital projects, two Rhode Island colleges are each preparing to bring a total of about 112 million dollars in new money and refunding deals to market through the Rhode Island Health & Educational Building Corp. in the summer of 2003. Providence College, a Catholic liberal arts institution, is awaiting approval on June 12, 2003 of its proposed 80 million dollar bond sale, while Bristol's Roger Williams University is looking to sell about 32 million dollars of bonds as early as the end of June, 2003. Of the variable-rate component, 12 million dollars will fund construction of a new arts center and five million dollars will finance various short-term projects. The remainder amount is a current refunding of the college's last bond sale, an approximately 52 million dollar issue in 1993.


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