Featured Municipal Bond in the Market, Week of 10/03/2016: Harvard University Revenue Bonds – $1.5 Billion
This week’s featured bond comes from the State of Massachusetts. The Massachusetts Development Finance Agency is scheduled to issue $1.5 billion in revenue bonds on behalf of Harvard University the week of October 3, 2016. These bonds are scheduled to be issued as a single series. The intended purpose of the bonds is to refund other bond series issued in 2008, 2009, and 2010. They are secured by the full faith and credit of the institution, to the extent permitted by law. These details and more on purposes, security, and other matters pertaining to these Harvard University revenue bonds can the found in the official statement, provided by MuniOS.
Harvard University resides within the Boston-Cambridge-Nashua, MA-NH Metropolitan NECTA, which as of August 2016 has an unemployment rate of 3.5%, which is 1.0% lower than at the same time in 2015, and 1.4% lower than the national rate.
Provided at left is a quick snapshot of financial characteristics of Harvard University, along with the medians for other private higher education institutions, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database. These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.