University announces inaugural bond issue
10 April 2014
The University of Sydney today announced an inaugural domestic bond issue to support its continued improvements to research and educational facilities for academics and students.
The raising of $200 million through the bond issue follows the announcement last month of an Aa1 Stable issuer rating from Moody's Investor Services, which reflects the University's strong financial sustainability and status as a leading Australian university.
In order to continue to attract and support the best students and researchers, the University is planning to deliver $2.5 billion of improvements to campus infrastructure between 2012 and 2020, including the Charles Perkins Centre, Abercrombie Precinct and Australian Institute for Nanoscience. The University will also continue to upgrade the quality of existing campus facilities that will promote collaborative learning and research facilities and create shared learning and teaching between faculties.
Led by Australia & New Zealand Banking Group and National Australia Bank, the funds raised from the bond issue will be used to partly refinance the University's existing bank debt facilities and contribute to its investment in world-class facilities for staff and students.
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