JOURNAL ARTICLE

Villanova Steps in to Rescue Investors in Neighboring College.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Albright, Amanda 3 of 3

Abstract

Villanova University in Pennsylvania has stepped in to rescue bondholders who own debt sold by Cabrini University, a small Roman Catholic school that announced its closure in 2024 due to financial struggles. As part of an agreement, Villanova will either set aside funding to pay off the bonds or assume the debt itself. This is seen as a positive outcome for bondholders, with the bonds' prices expected to increase. The deal still needs approval from various entities, including the Pennsylvania Department of Education. Villanova plans to continue Cabrini's work on immigration issues and women's leadership. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/11, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2023
  • Accession Number:173605933
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