Vol. 2, No. 2 – April 2008
Dear Friends of LAU,
You may have noticed LAU’s name in the news around the world during the month of March. If you didn’t, we became the first American higher education institution operating in the Middle East to issue uninsured bonds.
Since our beginning, we’ve been pioneers. We continued showing our pioneering spirit when we finalized the underwriting of a $75 million bond issued to Byblos Bank—Lebanon, with approval from Moody’s and Standard & Poor’s.
What does this success mean?
According to President Jabbra, this issuance has “secured for LAU the required funds to implement its ambitious capital plan and will provide the youth of Lebanon and the region an opportunity to earn a world-class education.”
The Board of Trustees approved a five-year strategic plan to help LAU finance the establishment of a medical school in collaboration with Harvard Medical International, a nursing school, and of achieving full accreditation by the New England Association of Schools and Colleges.
These plans, including modernizing the Beirut campus, will cost approximately $120 million. Based on Morgan Stanley’s advice, the university issued uninsured bonds, supported by its numerous strengths—financial and academic.
In other words, we are the first academic institution for higher education in the Middle East to enter the international financial market on solid ground.
This is a very exciting time for LAU and we look forward to having you become a part of the excitement.
Your Friends at LAU
P.S. To navigate through this issue of LAU Matters, simply click on the links at the top of the page (“Welcome,” “Alumni,” “Did You Know?” and “By The Numbers”).
