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Kindergarten to Grad School Loans Boost Bond Market (Update2)
July 11 (Bloomberg) -- Getting the money for a U.S. education, whether it's kindergarten or graduate school, increasingly depends on the bond market, where everyone from General Electric Co. to Goldman Sachs Group Inc. is rushing to meet record demand for student loans.
Soaring tuition costs are driving the boom in federally financed and private loans, 75 percent of which Wall Street transforms into debt securities. About $44 billion of bonds tied to student loans were sold in the first half of 2006, Moody's Investors Service says. At that rate, sales will top last year's record $73 billion.
``The bond market continues to support the spiraling cost of education,'' said Brent Griffith, an analyst with Fitch Ratings in New York. ``Clearly investor appetite is there.''
That's why GE, the world's second-largest company by market value, said last month it will start offering education financing.
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Boston Properties, Inc. Announces Second Quarter 2006 Results
BOSTON, July 26 /PRNewswire-FirstCall/ -- Boston Properties, Inc. , a real estate investment trust, reported results today for the second quarter ended June 30, 2006.
Funds from Operations (FFO) for the quarter ended June 30, 2006 were $129.4 million, or $1.14 per share basic and $1.10 per share diluted, after a supplemental adjustment to exclude the loss from early extinguishment of debt associated with the sale of real estate. This compares to FFO for the quarter ended June 30, 2005 of $121.3 million, or $1.10 per share basic and $1.06 per share diluted, after a supplemental adjustment to exclude losses from early extinguishments of debt associated with the sales of real estate. Losses from early extinguishments of debt associated with the sales of real estate totaled $0.24 and $0.09 per share basic and $0.22 and $0.08 per share diluted for the quarters ended June 30, 2006 and 2005, respectively.