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Bond proceeds provided for the refunding of a portion of the University's 2008 Series J & K issues, and financed the construction and renovation of new athletic fields, a performing arts facility, a musical rehearsal space, an engineering lab, science labs, and other miscellaneous capital projects.
The bonds were sold at a fixed rate yielding 3.28% on a 20-year maturity. The refunding of the prior bonds achieved 8.9% in net present value, or $8.7 million in debt service savings. Quinnipiac University is rated A3 and A- by Moody's and Standard & Poor's, respectively.
For further information, search EMMA for this issue.