The University of Southern California (USC) has raised $300 million through a sale of senior unsecured notes, The Wall Street Journal reports. The bonds carry a coupon rate of 5.25% and are scheduled to mature on Oct. 1, 2111.
The debt sale was led by Goldman Sachs and Morgan Stanley and supported by JP Morgan Chase. The private, not-for-profit, nonsectarian, research university intends to use the proceeds to support its current or future capital projects, to refinance existing debt and to pay costs of issuance.
Click here for the story from The Wall Street Journal.