Stanford University is preparing to issue up to $300 million of new tax-exempt debt this month, said treasurer Odile Disch-Bhadkamkar.
The university has filed an application to the California Educational Facilities Authority, she said in an interview.
Stanford plans to use the proceeds to pay down $150 million of commercial paper and raise new capital funds, Disch-Bhadkamkar said.
Stanford University has triple-A level ratings across the board.
The application also includes a request for up to $617 million in refunding authority.
“There’s no imminent plan to do that, but we tend to ask the state for a five-year authorization,” the treasurer said.
The CEFA, which would serve as conduit issuer, is expected to act on the request at its March 17 meeting. No underwriters have been appointed, Disch-Bhadkamkar said.
