DALLAS -Rice University in Houston is coming to market today with a two-tranche issue worth $200 million to fund continued construction of a new research center and two student residences and take out some commercial paper.

The Houston Higher Education Finance Corp. plans to offer $100 million of Series 2008A and $100 million of Series 2008B revenue bonds on behalf of the school. The debt will initially be issued as variable-rate demand bonds that can be converted to weekly rate, commercial-paper rate, dutch-auction rate, or term rate.

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