Wellesley College to Receive $145.2 Million of Proceeds From MassDevelopment Bond Sale
By Chris Wack
Wellesley College will receive $145.2 million from a bond sale on the school's behalf by the Massachusetts Development Finance Agency.
The Series 2025 N bonds are expected to be used to finance capital projects and refund certain outstanding bonds, according to a document posted Friday on MuniOS.
Interest on the bonds will be payable starting on July 1 and again on Jan. 1. Interest rates and yields have not yet been set. The bonds mature from 2026 through 2042.
The bonds will be backed with revenue from Wellesley College, as well as funds and investments. The securities are not a general obligation of the agency, and shall not be deemed to constitute a debt or liability of Massachusetts.
The agency works with businesses, nonprofits, banks, and communities to deliver a wide variety of programs and services, such as loans, tax-exempt bonds, grants, and real estate technical assistance.
Wellesley College is a private, non-profit liberal arts college for women that had about 2,285 degree-seeking students in the fall semester.
Moody's assigned the bonds a rating of Aa1, and S&P Global Ratings rated the bonds AA+.
Morgan Stanley and BoA Securities are the lead underwriters.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 10, 2025 12:30 ET (17:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
The Smartest Moves for Bond Investors Today, and What to Do When You Have Too Many Investments
Undervalued by 15%, This Utilities Stock Could Be an Unexpected AI Winner
The Thrilling 37
3 Stocks to Sell and 3 Stocks to Buy for October
United States