SAN FRANCISCO — The University of Washington, a top-notch credit, will hit a supply-constrained municipal debt market Wednesday with $271.3 million of bonds for refinancing and to fund various construction projects.

The university hopes to get true interest cost rates of below 4% across the whole deal and savings “well north” of 5% on the refunding that will price on Wednesday for institutional investors, according to Christopher Malins, senior associate treasurer at the university.

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