University of California to Tap Bond Market for $1.5 Billion

The University of California is prepping a $1.5 billion municipal bond sale to foot the bill for various projects at its 10 campuses and six academic health centers, according to Fitch Ratings Inc.

The deal could price as early as next week and includes two tranches of general revenue bonds, one for $825 million and another for $675 million, per the report.

Fitch assigned the debt an AA rating, the third-highest available, pointing to record-breaking enrollment numbers and a vast research enterprise. UC’s strong enrollment and high student demand give it tailwinds against the challenges facing higher education across ...