Word: bond
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Dates: during 2010-2019
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...cachet of the Harvard brand name came into play on the bond market when the University sold $480 million of debt last week and beat benchmark interest rates—an indication that the University’s bonds remain in high demand despite Harvard’s budgetary troubles...
Harvard’s latest bond sale brought the school’s outstanding debt to $6.5 billion dollars, a debt load comparable to that of the city of Chicago. Proceeds from the sale—which attracted a mix of investors including high net worth individuals, hedge funds, and insurance companies—will be used to fund a building project at the Law School and to refinance previously issued University debt...
Executives at Barclays—which headed a group of five investment banks that managed the bond sale—said in interviews with The Crimson last week that Harvard’s bonds were particularly appealing to investors given the University’s excellent credit rating and its strong reputation in the market. A high level of demand tends to drive down the yield on bonds...
Last year, in the midst of the financial crisis, Harvard sold $2.5 billion worth of bonds at a higher yield and received scrutiny for issuing debt during an unfavorable financial climate. A Forbes cover story suggested that Harvard was at a disadvantage in the bond market because it acted in a “cash-raising panic...
...We’re making an effort every year to make new members feel welcome and make everyone bond with each other,” Xie said...