CHICAGO - The triple-A rated University of Michigan enters the market tomorrow with $225 million of debt - the first piece in about $315 million of borrowing planned through early June that includes $50 million of Build America Bonds to finance a new women's and children's hospital and stadium renovations.

The university will sell two series of bonds on Tuesday, including nearly $107 million of fixed-rate bonds and nearly $119 million of commercial paper. JPMorgan and Merrill Lynch & Co. are senior managers on the A series and Merrill Lynch is underwriter and remarketing agent on the CP. Miller, Canfield, Paddock & Stone PLC is bond counsel.

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