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Hempstead Local Development, N.Y., preps $70 million Hofstra bond deal
By Sheri Kasprzak
New York, June 4 - The Town of Hempstead Local Development Corp. of New York is set to sell $70 million of series 2013 revenue bonds for Hofstra University, according to a preliminary official statement.
The bonds (A3/A/) will be sold on a negotiated basis with Barclays and BofA Merrill Lynch as the senior managers.
The maturities have not been set.
Proceeds will be used to construct a building connected to the university's School of Medicine, to renovate existing facilities and to refund the university's series 2003 civic facility revenue bonds.
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