Bloomberg News

Stanford University Sells $143 Million of 30-Year Taxable Bonds

April 03, 2012

Stanford University sold $143 million of taxable, senior unsecured bonds due in 30 years, according to data compiled by Bloomberg.

Stanford, the fifth-richest U.S. school, issued the 4.013 percent notes due in May 2042 to yield 70 basis points more than similar-maturity Treasuries, Bloomberg data show. Goldman Sachs Group Inc. and Morgan Stanley managed the offering.

Stanford joins a procession of schools including University of Pennsylvania and Northwestern University that usually sell tax-free debt in the municipal market. These institutions are now tapping demand for taxable corporate bonds in the highest ratings categories.

Moody’s Investors Service assigned an Aaa grade to Stanford’s taxable debt, the ratings firm said in a March 28 report.

To contact the reporter on this story: Charles Mead in New York at cmead11@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net.


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