Stanford Joins University of Chicago Selling Into Tax-Free Rally

Bloomberg reports that Stanford University and the University of Chicago, among the 10 highest-ranked U.S. schools, plan to offer tax-exempt revenue bonds amid the biggest rally this year in the $3.7 trillion municipal-debt market.

The California Educational Facilities Authority will issue about $240 million of new tax-free debt on behalf of Stanford, according to offering documents released today. The Bay Area university, near the headquarters of Facebook and Google Inc., will also issue $150 million of taxable securities itself.

In a similar deal, the University of Chicago plans to offer $200 million of taxable bonds and borrow another $150 million via the tax-exempt market through the Illinois Finance Authority….

Read all about it at http://www.bloomberg.com/news/2013-04-26/stanford-joins-university-of-chicago-selling-into-tax-free-rally.html