By Zaeem Shoaib
The Board of Trustees for Colorado Mesa University plans to sell $117.5 million in municipal bonds to pay for a student housing project.
The commission will issue the Series 2025 A Institutional Enterprise Revenue and Revenue Refunding Bonds that mature on May 15 from 2025 through 2055.
Interest on the bonds will be payable semiannually on each May 15 and Nov. 15. The bonds are expected to be delivered by March 13.
Proceeds of the bonds are expected to be used to finance the Series 2025 A improvements project, which consists of the acquisition, construction, renovation or equipping of the Centennial Village Student Housing Project, a dining facility/market hall, plaza infrastructure and any other improvements to any of the campus for which the board has spending authority.
The bonds will also be used to refund certain outstanding obligations and fund capitalized interest.
Moody's has assigned a rating of Aa2 to the bonds.
Jefferies and Piper Sandler & Co. are lead managers for the issuance.
Write to Zaeem Shoaib at zaeem.shoaib@wsj.com
(END) Dow Jones Newswires
February 24, 2025 15:35 ET (20:35 GMT)
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