Battered Harvard Seeking $1.5 Billion In The Bond Market

With its endowment crushed, Harvard is looking to raise $1.5 billion in the bond market:

Reuters: Harvard College on Friday launched a $1.5 billion three-part taxable bond offer with Goldman Sachs, Morgan Stanley and JPMorgan acting as lead managers, according to IFR.

The Triple-A-rated university is planning to sell $500 million in 5-year, 10-year and 30-year notes, with all maturities expected to price at a yield spread of 337.5 basis points over comparable Treasuries, said IFR, a Thomson Reuters service.

Even with the decline, Harvard still has a lot of money, but a lot of it is probably fairly illiquid — stuck in hedge funds and private equity deals that will take some time to unwind.

(via Eddy)

See also:
Harvard Endowment Demolished: Down $8 Billion, 22% Through October

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In