Harvard University Gets Nod to Sell $2 Billion of Muni Bonds

Harvard University won approval to sell as much as $2 billion of tax-exempt bonds by a state agency at a meeting on Thursday.

The board of directors for the Massachusetts Development Finance Agency voted to authorize the issuance of $2 billion of bonds for Harvard. The state agency issues tax-exempt bonds on behalf of colleges as well as other borrowers in the state. Details of what proceeds of the debt would be funding and timing were not discussed at the meeting.

The size of Harvard’s authorization is more than the $900 million sale that the school previously disclosed it ...