University of Hawaii sells $100M in revenue bonds - Pacific Business News (Honolulu):

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The university said it would use the money raiseed for student housing and additional campus and researcyh facilities and torefund $13.3 million of previously issues bonds at a savings of $1.3 The university said it sold the bonds last “By financing these projects with our own revenu e streams, the university is moving with all deliberate speedf to improve the quality of the facilitiew used by our students and faculty, and demonstratinf in the process that we are part of the solution to Hawaii’w current economic challenges,” said UH Presidenft David McClain, in a statement. UH Manoa student housinhg renovations, $16.
5 million; addition to the UH Manoqa Biomed building, $22.5 million; UH Hilo Bookstorwe Campus Center addition, $7 million; UH West Oahu Kapolej campus development, $20 and refund bonds issued in 1995 for the Kauiokahaloa Nui facultg housing project atUH Manoa, $13.3 million. Some moneyu also will be used to buy and convert apartments for UH Hilo studengt housing and for the acquisitioh of a facility for the Waianae Education Center administered by the LeewardCommunity College. Merrill Lynchg & Co. underwrote the Moody’s Investors Service and Standard & Poor’s affirmerd the university’s ratings of and “A+”.
Fitch Ratings upgraded the university’e revenue bonds to “AA-”, citing the university’ds dominant market position within Hawaii, the universituy said.