The University of Connecticut plans to sell $220 million of municipal bonds starting today as its teams are set to play this weekend in the Final Four of the men’s and women’s national college basketball tournaments.
Officials decided on the timing of the tax-exempt offering before the tournament began March 18, said John Sullivan, the university’s manager of treasury services. The school will resume the deal April 7, the day of the men’s national championship game. The school will wrap up the sale April 8, when its women’s team has a shot at being crowned winner for the second-straight year and eighth time since 2000.
“I’ve got to admit, with the NCAA Tournament, it’s good timing for the deal,” Sullivan said. “With both the men’s and women’s teams, how much better could it get? The stars are aligned.”
Money from the bond sale will fund construction as part of a 29-year, $4.6 billion initiative that began in 1995 called the UConn 2000 Infrastructure Improvement Program. The general-obligation securities also have state backing, offering documents show. The university shares Connecticut’s AA rating from Standard & Poor’s, third-highest.
http://www.bloomberg.com/news/2014-...onn-s-muni-bond-sale-aligns-with-tourney.html
Officials decided on the timing of the tax-exempt offering before the tournament began March 18, said John Sullivan, the university’s manager of treasury services. The school will resume the deal April 7, the day of the men’s national championship game. The school will wrap up the sale April 8, when its women’s team has a shot at being crowned winner for the second-straight year and eighth time since 2000.
“I’ve got to admit, with the NCAA Tournament, it’s good timing for the deal,” Sullivan said. “With both the men’s and women’s teams, how much better could it get? The stars are aligned.”
Money from the bond sale will fund construction as part of a 29-year, $4.6 billion initiative that began in 1995 called the UConn 2000 Infrastructure Improvement Program. The general-obligation securities also have state backing, offering documents show. The university shares Connecticut’s AA rating from Standard & Poor’s, third-highest.
http://www.bloomberg.com/news/2014-...onn-s-muni-bond-sale-aligns-with-tourney.html