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Emory sells bonds – High credit rating bodes well

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Emory University will sell about $300 million of bonds to fund a performing arts center, additional student housing and improvements to some of its health care facilities, Bloomberg News reported July 20.

The Atlanta university will sell about $130 million of fixed-rate bonds at the end of July, John Temple, Emory’s finance chief, told Bloomberg. A $170 million issue of bonds with floating interest rates will be sold the second week in August. The bonds will be sold through Paine Webber.

Emory has a high credit rating because of its $5 billion endowment. That rating, combined with the fact that not many issuers in Georgia have sold bonds lately, will probably mean good sales for Emory’s offering.

For full story, go to America Online.

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