Cornell Prepares Record $1 Billion Bond Sale After Trump Deal

Cornell University is preparing a record $1 billion bond sale after the school’s trustees signed off on borrowing as much as $1.7 billion of new debt, as universities continue to face funding pressures from the federal government.

The authorization was mentioned in the offering documents for the upcoming sale which is expected to price as early as Nov. 17, according to an investor roadshow presentation. That $1 billion taxable offering, managed by Goldman Sachs Group, Inc., is poised to be the largest single issue the school has brought to market, according to data compiled by Bloomberg. It’s also included in the larger approval from the board. Cornell had $3.2 billion of debt and liabilities outstanding as of June 30.