The University of Southampton today announced the launch of a £300m public bond which it will use to fund its ‘simply better’ programme.
Intended to attract long-term funding, the bond has attracted the lowest interest rate of any issued by a UK university.
The money, which is due for repayment in 40 years, will be used alongside existing funding to invest £600m into university facilities and infrastructure over the next ten years.
Professor Sir Christopher Snowden, the University’s President and Vice Chancellor, said that the bond was a ‘huge vote of confidence’ in the institution by investors. He added that the money would ensure the University could continue to provide a ‘world-class teaching and research environment’ for students and staff.
Union President Alex Hovden, who sits on the University council, told Wessex Scene:
As President, I sit on the University Council, which is the governing body of the University. As such I have been involved in looking at the implementation of the University strategy, which has included the issuing of the public bond, which will enable the University to fund its exciting and very ambitious cross-campus building plans over the next 5-10 years.
I am confident that this will improve the ranking and reputational standing of the University, so that even after you graduate, a degree from Southampton will carry a huge amount of weight.
More details on the investment and the University’s ten year plan will be announced at the next Vice-Chancellor’s Address on the 2nd June.