The board of Wayne State University last week approved a plan to sell $92 million of general revenue bonds this spring to finance new construction, including a new building in Detroit.

The bond sale is part of the university's $170 million capital plan through 2016, according to a report in Crain's Detroit Business. The school plans to sell at least $90 million of bonds with Bank of America Merrill Lynch as senior underwriter, according to the report.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.