THE University of Leeds has announced details of a £250m bonds issue that will be used to support its investment in facilities, staff and technology.
The university said it has priced the issue of £250m 3.125 per cent bonds, which are due in 2050.
The bonds are expected to be assigned a rating of Aa2 (stable outlook) by Moody’s, the university said.
The university will use the net proceeds from the bond for general corporate purposes, including the investment in teaching and research facilities, student accommodation and supporting infrastructure.
Sir Alan Langlands, vice-chancellor of the University of Leeds, 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.
“We are delighted with the success of this issue and the confidence shown by a wide range of investors in the university’s achievements and future ambitions.”
Barclays, HSBC and Lloyds Bank acted as joint bookrunners.
Rothschild provided independent debt advice to the university and law firms Clifford Chance and Eversheds provided legal advice. The University of Leeds was founded in 1904. It currently has 31,357 students from 147 countries.