The North Carolina State University at Raleigh expects to issue $77.5 million of tax-exempt and Build America Bonds on Tuesday.
The deal includes $18.6 million of Series 2010A tax-exempt bonds and $58.9 million of Series 2010B BABs.
Proceeds from the deal will help the state’s largest university fund a veterinary hospital, a parking garage, and student services, said Lori Johnson, director of strategic debt management at the university. The bonds will also refinance certificates of participation issued in 2002.
The bonds are expected to mature between 2011 and 2035, with the tax-exempt bonds comprising the shorter maturities.
The bonds are rated Aa2 by Moody’s Investors Service. A rating from Standard & Poor’s was not available at press time.
