According to an article by Michael McDonald at Bloomberg:
Liberty University… borrowed $100 million for an expansion of its Lynchburg, Virginia, campus, almost doubling its long-term debt.
The university… will use the money to help finance $225.2 million of capital projects planned around the campus in the next five years, according to sale documents. Work will include a library named for its founder, a baseball stadium and a school of health sciences, according to the documents distributed to investors.
With 77,800 students, the institution is one of the largest private colleges in the United States. More than 60,000 of those students, however, attend the institution online. The baseball stadium and library will be irrelevant to their experience. [Image via]