Harvard University is selling about $400 million of tax-exempt bonds to partly fund a scaled-back campus expansion plan, Bloomberg reports. The college will use the sale proceeds to finance capital projects, which include a law school building in Cambridge.
The university is also looking to refinance a part of its over $6 billion in debt, along with paying off commercial paper. Barclays is leading a group of five investment banks to market the bonds to individual investors, while Massachusettss Health and Educational Facilities Authority is issuing the debt for Harvard.
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