Harvard Selling $350M in Debt to Finance Renovation

CAMBRIDGE, MA-Harvard University is selling about $350 million worth of bonds to raise funds for renovation projects including the medical school's new research building, a garage, the Science Center and the Baker Library.

By Naomi Grossman | December 18, 2003 at 01:01 AM

According to published reports, Harvard plans to issue the short-term debt through the Massachusetts Health and Educational Facilities Authority. JP Morgan Chase & Co. of New York is managing the sale.

Harvard president Lawrence Summers recently unveiled the university's plan for a college campus on the 200 acres it owns in Allston. Plans call for science and technology centers, professional schools and university housing in what is now an industrial area.

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