Bond Financing Profile: The Scripps Research Institute (TSRI)
The Scripps Research Institute (TSRI)
LOCATION: La Jolla, CA
AMOUNT ISSUED: $49,190,000 – 501(c)(3) Bond
DATE ISSUED: May 24, 2016
ABOUT: Headquartered in La Jolla, TSRI is among the largest private, nonprofit biomedical research organizations in the world. The bonds support building a replacement research laboratory used by TSRI’s scientists, who have made recent breakthroughs in various studies, including Alzheimer’s disease, HIV/AIDS and cancer. The new facility creates approximately 400 jobs. Proceeds also refund outstanding IBank bonds, providing an estimated interest savings of $6.4 million through 2030.