April 28, 2009
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.