Word: matep
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Ever since MATEP was conceived more than a decade ago, Harvard financial planners have expected to replace the operating funds that were diverted to construct the plant with a low-interest borrowing scheme such as the upcoming issue...
...refinancing the plant some five years after construction. Harvard will be taking advantage of present low-market rates to recoup the original MATEP expenditure. The laws covering the issue will also enable Harvard to re-invest some of the money in its endowment and also to help pay off older bond issues. Harvard treasurer George Putnam '49 said recentls...
...plant currently provides steam and chilled water to 12 Harvard-affiliated hospitals in Boston. Governmental approval for MATEP to generate electricity, its chief money-saving function, has so far been stalled because of environmental concerns...
...December bond issue received an AAA rating-the highest possible-and sold out in a day. An official at Goldman Sachs, the New York brokerage firm that managed the sale, yesterday predicted the MATEP issue will also receive the top rating...
Harvard officials estimated that the MATEP sale will raise $150-250 million...