University of the Sciences in Philadelphia Sells $40M

Cataldo, Adam L.
January 2005
Bond Buyer;1/13/2005, Vol. 351 Issue 32049, p6
Trade Publication
The article reports that the University of the Sciences in Philadelphia, Pennsylvania has sold US$40.5 million of higher education revenue bonds. UBS Financial Services Inc. priced the deal, which was composed of both serial and term bonds. The university plans to refund some existing debt in February 2005 using auction-rate securities. The financing will result in the university having a targeted mix of natural fixed rate debt, synthetic fixed rate debt, and natural variable rate debt.


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