Word: highes
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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...
...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...
Milano added that investors and companies facing high marginal tax rates found these bonds particularly appealing because they were tax-exempt...
Harvard’s plans to sell a 62.5-acre parcel of land to the Town of Weston, Mass. have been temporarily derailed after engineers discovered high levels of lead and arsenic in the soil, and the sale—nearly a month overdue—has been put on hold until the University’s cleanup of the land...