CHICAGO — Ohio State University said demand for its $114 million of refunding bonds last week was nearly triple the size of the issue and that it will save $12 million in interest cost over the 20-year life of the debt.

The university saw an all-in interest rate of 2.32% on the debt, down from 4.06% on the original bonds. There were more than $325 million of orders for the $114 million offering, an OSU spokesman said Friday.

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