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million in fixed-rate bonds to pay off existingf debt and fund construction The university issued an official statemengt for thebonds Jan. 30. The securities are beinf issued throughthe . The sale comesw on the heels of thenearly $75.5 million in variable-rates bonds Northeastern University issued in December. Of the current bond which is expected to closeon Feb. 5, abouty $38.3 million will go to fundiny projects onthe university’ s campus, according to the bond offering’s prospectus. Those projects include the renovationof halls; the construction of a 1,200-berd dorm and 600-bed dorm; and the installationj of new management software. Approximately $25.
5 million will be used to pay down the principal on threeoutstanding bonds. Late last credit rating agency Moody’ws Corp. (NYSE: MCO) revised Northeastern University’s outlooj to negative from stable due totroubled interest-rat e swap arrangements and greater volatility risk in the school’s debt
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