Dartmouth and New Hampshire Authority to Sell $455M in Bonds for School

Dow Jones
Jul 16, 2025

By Josh Beckerman

 

Dartmouth College plans to sell $300 million of taxable bonds for general corporate purposes including capital expenses, while the New Hampshire Health and Education Facilities Authority intends to sell $155 million of tax-exempt bonds for capital projects at the school.

Dartmouth's $300 million of Series 2025 B bonds and NH HEFA's $155 million of Series 2025 A securities were both rated Aa1 by Moody's and AAA by S&P Global Ratings, according to documents posted on MuniOS.

The college's rolling 5-year capital plan totals $1.4 billion for fiscal 2026 to fiscal 2030. Major components include renewing and building residence halls, energy transition investments and Title IX projects.

According to NH HEFA's offering document, proceeds from the authority's bond sale will be used for work on existing and new student housing including at East Wheelock House and Fayerweather and other projects at Dartmouth's campus.

In fiscal 2024, Dartmouth's total operating revenue was $1.3 billion. For the 2024-2025 academic year, total enrollment was 6,938.

For Dartmouth's sale, Goldman Sachs is sole bookrunner and BofA Securities is co-manager. For the NH HEFA sale, BofA is senior manager and Goldman is co-senior manager.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

July 15, 2025 15:28 ET (19:28 GMT)

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