Cambridge University issues first bond to generate income
Howard Lake | 23 October 2012 | News
The University of Cambridge has issued its first bonds, offering another source of income to the institution. The £350 million worth of bonds were released at a rate of 3.75% and are due in 2052.
The University aims to “use the net proceeds from the bond for general corporate purposes, including investment in research facilities, accommodation and other university assets”.
US universities including Harvard and Princeton already issue bonds on the capital markets, but Cambridge is only the second UK higher education institution to do so, following De Montford.
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The bond was substantially over-subscribed. The University had received £1.5 billion of orders from investors for the £350 million available.
www.cam.ac.uk
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.