Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Johns Hopkins Plans to Sell $355 Million of Bonds to Refund Debt

Feb. 7 (Bloomberg) -- Johns Hopkins University plans to issue $355 million of taxable, fixed-rate bonds to refinance outstanding debt.

The securities will probably be sold as soon as Feb. 11, and proceeds will be used to refund debt including $200 million of outstanding taxable bonds, according to a Feb. 4 Fitch Ratings report. The debentures were rated AA+ by Fitch, Aa2 by Moody’s Investors Service and AA by Standard & Poor’s. The securities may come due between 2043 and 2053, according to Moody’s.

The rating reflects the Baltimore-based school’s “status as one of the preeminent research-based universities in the country” with “highly competitive demand” for its undergraduate, graduate and professional programs, Ken Rodgers, a credit analyst at S&P, said in a Feb. 5 report.

In March 2009, the university sold $400 million of 5.25 percent securities due July 2019, according to data compiled by Bloomberg. Those notes traded at 120.7 cents on the dollar on Jan. 30 to yield 1.82 percent, or 95 basis points more than similar-maturity Treasuries, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Dennis O’Shea, a spokesman at Johns Hopkins, said he couldn’t immediately comment on the offering.

To contact the reporter on this story: Charles Mead in New York at cmead11@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.