Tulane University Wins Nod to Sell $600 Million of Muni Bonds

Tulane University won approval from state officials to borrow as much as $600 million to lower debt costs and finance various construction projects.

The Louisiana State Bond Commission voted on Thursday to authorize the school to borrow approximately $297 million to refinance existing debt and roughly $303 million for campus projects. The bonds will be issued by the Louisiana Public Facilities Authority, an agency that borrows on behalf of educational facilities, hospitals and economic development projects.

Tulane is the latest elite college taping investors to raise money in the capital markets. So far this year, schools including Harvard University ...