Valparaiso University will issue USD 39.545m revenue bonds through Indiana Finance Authority tomorrow (6 June) for various capital projects and to refund past issues.
Wells Fargo Securities is the underwriter. The capital projects include construction of a new academic building for STEM programs, renovation of certain educational facilities, and campus-wide landscaping and site improvements. The bonds are unsecured general obligations of the university.
Over the past five years, Valparaiso’s law school has faced substantial declines in enrollment, lower bar passage rates, and less-promising job placement among graduates. The law school needs to take remedial actions following a recent censure by American Bar Association; otherwise, it could face sanctions and a loss of accreditation, which would be detrimental for Valparaiso’s credit strength.
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