The University of Hawai'i reports it has concluded the sale of $100 million of university revenue bonds.

The university announced yesterday that the money will be used for student housing, as well as campus and research facilities.

It said some of the money will be used to refund $13 million of previously issued bonds for a savings of $1 million.

UH President David McClain said the financing of the projects demonstrates the university is part of the solution to Hawai'i's economic challenges.

Merrill Lynch & Co. underwrote the bonds. Yields ranged from 0.95 percent to 5.5 percent and carried a final maturity of Oct. 1, 2038.

Money raised will be used for a variety of projects, including $22 million for an addition to the university's biomedical building.