Stanford completes sale of $1 billion of taxable bonds

Stanford University has completed the sale of $1 billion of taxable notes in a three-part offering. The bonds, rated AAA, will mature in five, seven and 10 years. Goldman Sachs & Co., JPMorgan and Morgan Stanley were the lead underwriters.

The university issued $350 million of five-year bonds at 3.625 percent, $250 million of seven-year bonds at 4.25 percent and $400 million of 10-year bonds at 4.75 percent.

Proceeds from the sale will be used for general purposes as needed, including financing operating and capital expenditures and ensuring adequate liquidity.

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