The Massachusetts Development Finance Agency this week will issue $353.4 million of tax-exempt and taxable debt on behalf of the Broad Institute Inc., a biomedical research facility, to help finance a new laboratory and building in Cambridge.

This is the first time the Broad Institute is accessing the capital markets. The institution's revenues, most of which come from federal National Institutes of Health grants, will pay down the bonds. The institute is a 501(c)(3) nonprofit research corporation.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.