TITLE

MIT Prices $200 Million Deal; University's Debt Level to Exceed $1 Billion

AUTHOR(S)
Piazza, Johanna
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/22/2003, Vol. 344 Issue 31619, p25
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Massachusetts Institute of Technology (MIT) will top $1 billion in outstanding debt for the first time in the prestigious university's history this week after pricing the $200 million in Series L fixed-rate revenue bonds beginning April 22, 2003. The bonds are being issued through the Massachusetts Health and Educational Facilities Authority, a frequent issuer of MIT debt, and will be secured by the general obligation pledge of the university.Across Cambridge, Massachusetts, Harvard University maintains $2.1 billion in debt, making it the most debt-intensive university in the country.The University of Pennsylvania, Yale University, Emory University, and Stanford University also all have more than $1 billion in outstanding debt.
ACCESSION #
9666819

 

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