Hot sectors in a tepid recovery
The energy, finance, technology and healthcare industries are expected to be the hottest areas for dealmaking in 2010. Full Article | Full Coverage
UPDATE 1-Harvard sells $1.5 bln in debt-IFR
(Updates with final pricing)
NEW YORK, Dec 5 (Reuters) - Harvard College on Friday sold $1.5 billion in a three-part taxable bond offer with Goldman Sachs, Morgan Stanley and JPMorgan acting as lead managers, according to IFR.
The "AAA"-rated university sold $500 million in 5-year, 10-year and 30-year notes. The five-year debt priced to yield 335 basis points over comparable U.S. Treasuries, and the 10-year and 30-year bonds priced at 337.5 basis points over Treasuries, said IFR, a Thomson Reuters service.
The proceeds of the sale will be used to refinance taxable commercial paper and for other corporate purposes.
The bond sale comes just two days after the world's richest university announced that its endowment has lost 22 percent, or about $8 billion, in the last four months.
That has placed it on track for its worst annual returns in 40 years. See [ID:nN03529653].
(Reporting by Ciara Linnane and Karen Brettell; Editing by Dan Grebler)
