Harvard to Sell $1.1B in Bonds

Harvard University will sell up to $1.1 billion in bonds in order to secure low interest rates resulting from the coronavirus, Bloomberg reports.

The university will sell $573 million in revenue bonds through a state agency to refinance existing debt, and $500 million in taxable bonds for “eligible corporate purposes.”

A recent financial report shows the university has $5.2 billion in outstanding tax-exempt and taxable bonds, but a finance expert described Harvard's liquidity as ample.