Word: bondses
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The revelation that the militants were seeking to pick up arms left behind by Jemaah Islamiah is "consistent with what we know from depositions of arrested J.I. members," says Sidney Jones of the International Crisis Group, who has studied the network intensively. "They were running arms out of southern Thailand...
A portion of the Series 2005A bonds will also partially reimburse the University for the cost of a lease it bought in September 2001 from a hospital affiliated with the Harvard Institutes of Medicine.
Goldman Sachs will also price a second bond series next week. Series 2005B, at $101 million, which will refund outstanding bonds issued in 1995, Series P. The new bonds’ lower rates will enable Harvard to decrease borrowing costs.
Both deals will be priced next week, but money won’t actually move until the closing in August when Harvard refunds its old Series P bonds. This lag time enables Harvard to take advantage of favorable market conditions.
Harvard is sitting on an endowment of $22.6 billion, but by issuing bonds, the University can finance capital projects without dipping into the endowment or affecting operating costs.