UH sells $293 million worth of university revenue bonds

HONOLULU (AP) - The University of Hawaii System has sold $293 million worth of university revenue bonds. University officials said Wednesday that Tuesday's sale included traditional tax-exempt bonds and taxable Build America Bonds.

Some of the money will be used to finance the construction of new facilities for the university's Cancer Research Center of Hawaii at Kakaako. The rest will finance various projects across the university system, including the construction of the new UH West Oahu campus and an addition to UH-Manoa's Campus Center.

The university said the all-in true interest cost of the bonds was 3.7 per cent, a cost significantly lower than any recent bond issue by the university.

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