University statement: issue of £250m bonds due 2050
The University has today issued a £250 million bond to help finance the ambitious £520 million capital programme set out in the Strategic Plan.
The University was assigned an excellent AA2 (stable) credit rating by Moodys; and, given the turbulent state of the financial markets this week, the successful issue of the bond demonstrates high investor confidence in the Universitys achievements and future ambitions.
In a formal press release available on the Universitys website, the Vice-Chancellor said: Above all, this issue is an investment in our students and academic staff. Over the next five years, it enables the University to invest in high-quality facilities that will enhance student education and in cutting-edge science, technology and innovation platforms that will drive progress in our world-leading research.
The bond is due to mature in 2050 and has a coupon rate of 3.125 per cent, the second lowest coupon in the public market ever achieved by a UK university.
This announcement shall not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country. No securities may be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or an applicable exemption from registration requirements. No public offering of securities will be made in the United States.
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