University of California Pulls Bond Deal Amid Trump Spat

The standoff between the Trump administration and the University of California at Los Angeles — which has already threatened more than $500 million in federal funding — is now derailing what was supposed to be a run-of-the-mill $1.5 billion municipal-bond sale.

The University of California pulled its planned borrowing that had been slated for this week, according to a person familiar with the matter. Proceeds from the sale were expected to fund various projects at the university’s 10 campuses and six academic health centers, according to Fitch Ratings.