Colorado State University Re-Funds $88M for Projects

The Colorado State University System (CSU) is going to the bond market for the second time this year with an $87.7 million refunding that includes taxable and tax-exempt debt. In February, the CSU Board of Regents issued $126 million for expansion projects on the Fort Collins and Pueblo campuses. Th...

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Bibliographic Details
Published in:	National Mortgage News 2012-04, Vol.36 (29), p.6
Main Author:	Williamson, Richard
Format:	Article
Language:	eng
Subjects:	Bond issues Bond ratings College campuses Colleges & universities Referendums State budgets Student housing Tax rates
Online Access:	Get full text
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Summary:	The Colorado State University System (CSU) is going to the bond market for the second time this year with an $87.7 million refunding that includes taxable and tax-exempt debt. In February, the CSU Board of Regents issued $126 million for expansion projects on the Fort Collins and Pueblo campuses. The issue will offer investors $82.4 million of tax-exempt system revenue bonds and $5.3 million of taxable bonds. The CSU system will have about $631 million of outstanding debt after this issue, according to Moody's Investors Service. With guarantees from Colorado's higher education revenue bond intercept program, the bonds carry enhanced ratings of AA-minus from Standard & Poor's and Aa2 from Moody's Investors Service. The underlying ratings are A-plus and Aa3, respectively, with stable outlooks.
ISSN:	1050-3331