Harvard, Princeton rush to sell debt to yield-hungry international buyers

In a world of falling interest rates, US universities like Harvard and Princeton are finding love for their bonds from international investors seeking extra yield.

Demand for debt of American colleges has increased recently from investors in places like Japan, South Korea, Singapore, and Taiwan, market participants say. That’s helped the universities price about $36 billion of bonds this year, the most since at least 2004, as they join a global boom in debt deals.

While colleges face uncertainties this academic year after having to close or modify campuses because of the coronavirus, many global investors are finding the long-term stable outlook