University of California Sells $2 Billion of Debt Amid DOJ Suit

The University of California sold about $2 billion of general revenue bonds in the municipal-bond market on Wednesday amid a newly filed federal lawsuit that alleges discrimination against Jews and Israelis at its Los Angeles campus.

JPMorgan Chase & Co. and Siebert Williams Shank & Co. led the transaction for the Regents of the University of California. On Tuesday, the US Justice Department filed a civil rights complaint alleging the University of California at Los Angeles created a hostile work environment for Jewish and Israeli employees. The deal’s bond documents were updated to disclose the lawsuit.