ND Pays Record Low Interest Rate for Bond

Chris Isidore, CNN Money | January 18, 2015 

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The University of Notre Dame's football team may have struggled this season. But that hasn't hurt its stellar reputation.

In fact, on Wall Street, Notre Dame was able to raise $400 million selling bonds at a record low interest rate of 3.4%. It was the lowest rate on record for a 30-year corporate bond.
 
Notre Dame received a rare AAA rating from credit rating agency Moody's in December. The agency cited the university's "national prominence," its history of strong fund raising and robust demand from students to attend the school.
 
It was a good rating to have in the current low interest rate environment and investors were willing to lend money to the university at the low interest rate.
 
According to the school, the previous low rate on corporate debt was a $500 million bond issued by Xcel Energy (XEL) in August 2012.

Read more at CNN Money.

 by Daily Domer Staff

Posted In: Features