FYI: American universities, used to taking the long view of history, seem to see the current era of rock-bottom interest rates as one that may not come around again for another century.
Rutgers University in New Jersey this week is planning to sell $330 million of bonds that don’t mature for 100-years, joining a small but growing number of schools that are seeking to lock in current borrowing costs by issuing unusually long-dated debt. It’s following the University of Virginia, the college founded by Thomas Jefferson that last week sold 100-year bonds for a yield of 3.23%.
Regards,
Ted
https://www.fa-mag.com/news/universities-join-century-bond-boom-after-rates-tumble-worldwide-51554.html?print
