The Massachusetts Institute of Technology (MIT) is selling century bonds worth $750 million in two-parts, Financial Times reports. The 100-year notes carry a coupon rate of 5.6%, adds The Wall Street Journal.
Proceeds of the sale will be used to fund part of a plan by the university to improve its facilities, create new research buildings and make other real estate investments. The deal was managed by Barclays Capital, JP Morgan and Morgan Stanley.
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