PHOENIX -- Phoenix-based Grand Canyon University has refinanced $520 million in bonds.

Colliers International Mortgage Advisory LLC arranged the financing through the Industrial Development Authority of the County of Maricopa Education Bonds.

This refinances two bridge loans that Colliers had arranged in October and pays off its credit line.

The new debt is a 3(a)(2) bond financing and was issued as a partial refinance of the bonds issued in 2021 by the university, according to Colliers.

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