Liberty University plans to pay off more than $189 million in taxable bonds next month, according to paperwork filed Wednesday by the Bank of New York Mellon Trust Co. NA. The prices will be set March 31, which will include accrued interest.
Liberty issued a $100 million bond in 2012 with a 5.1% interest rate, and in 2019, it issued two more bonds, with the principal amounts of $86 million and $3,745,000. All three bonds will be redeemed April 5, according to the documents, which were posted Wednesday on Liberty’s financial disclosure website. Davenport & Co. LLC, the Lynchburg-based private Christian university’s financial adviser, will determine the “make-whole” prices of the bonds, which is equal to 100% of the principal amounts, or the sum of the present values of remaining principal and interest payments on any bonds being paid off.
“Without Freedom of Thought, there can be no such thing as Wisdom; and no such thing as public liberty, without Freedom of Speech.” – Benjamin Franklin pic.twitter.com/1gcg2jqWPt
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Because we are a free democracy where liberty to choose is fundamental.
This is authoritarian control. and not what the people want. https://t.co/Sc1bCDgkJB
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