University of California Pulls Bond Deal Amid Trump Spat (1)

The standoff between the Trump administration and the University of California at Los Angeles — which has already threatened more than $500 million in federal funding — is now derailing what was supposed to be a run-of-the-mill $1.5 billion municipal-bond sale.

The University of California pulled its planned borrowing that had been slated for this week, according to a person familiar with the matter. Proceeds from the sale were expected to fund various projects at the university’s 10 campuses and six academic health centers, according to Fitch Ratings.

The development shows how the fight between President Donald Trump and Governor ...