After a seven-year hiatus from bonding, the University of Medicine and Dentistry of New Jersey today plans to sell $253 million of revenue refunding bonds with a special "lockbox" structure to secure debt service payments.

UMDNJ's last deal was $87.4 million of certificates of participation issued in 2004. This will be the university's first bond transaction since 2002, when it sold $319 million of revenue bonds. The New Jersey Educational Facilities Authority will serve as conduit.

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.