Northwestern University Plans $300M Bond Sale for Capital Projects

Dow Jones
03-06

By Paulo Trevisani

 

Northwestern University plans to issue $300 million in taxable fixed-rate bonds to finance capital projects.

The proceeds will support general corporate purposes, including funding certain unspecified capital projects on Northwestern's campuses, according to documents posted Tuesday on MuniOs.

The taxable Series 2025 bonds will pay interest every six months, starting Dec. 1, 2025. Specific yields and coupons weren't available.

The securities are expected to be issued this month. They mature in 2035 and are payable by funds deposited by the university with the trustee. They aren't backed by a reserve fund or mortgage lien.

Northwestern reported operating revenues of $3.3 billion in fiscal 2024.

The bond is rated Aa1 by Moody's and AA+ by S&P.

Barclays and Siebert Williams Shank are lead managers for the issuance.

 

Write to Paulo Trevisani at paulo.trevisani@wsj.com

 

(END) Dow Jones Newswires

March 05, 2025 12:15 ET (17:15 GMT)

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