By Stephen Nakrosis
Boston College is poised to receive $375 million of municipal bond proceeds to pay for capital projects and refinance existing debt.
The Massachusetts Development Finance Agency will sell the Revenue Bonds, Boston College Issue, Series W, on the school's behalf, according to documents posted Wednesday on MuniOS. The transaction may take place as early as the week of March 10.
The bonds are an unsecured general obligation of the college, and backed by the school's full faith and credit. The securities will mature from 2026 through 2042.
Proceeds will also be used to pay for issuance costs.
Money from the sale will fund the acquisition and potential renovation costs at the college's Newton East Campus, work at its Brookline Campus and other projects that are part of the school's long-term capital plan. Those include various construction projects, along with renovations and improvements to academic and student facilities.
Founded in 1863, Boston College is a Catholic institution that was established by the Jesuit Order. The school has an enrollment of 15,200 undergraduate and graduate students.
MassDevelopment is a finance agency and land bank that works with companies, nonprofits and communities across the state to stimulate business and boost economic growth, according to its website.
Moody's rated the bonds Aa3, and S&P Global Ratings has them at AA-.
Barclays is listed as the offering's lead manager.
-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 05, 2025 19:20 ET (00:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.