911½ñÈÕºÚÁÏ

911½ñÈÕºÚÁÏ has agreed to issue bonds for £200 million through private placement to support major capital projects.

The agreement, which was signed on 17 November, will allow 911½ñÈÕºÚÁÏ to draw down funds to support part of a £600 million programme of growth and diversification at 911½ñÈÕºÚÁÏ’s South Kensington and  

The wider programme of investment includes major capital projects such as: 

• The Michael Uren Biomedical Engineering Research Hub, building on a £40 million gift from Michael Uren;
• The Dyson School of Design Engineering, adding to a £12 million donation from the Dyson Foundation;
• A new residential tower at White City Campus, which will include 59 apartments for 911½ñÈÕºÚÁÏ’s key workers;
• A new undergraduate hall of residence. 

The Michael Uren Biomedical Engineering Research Hub

The funds will be repaid at an average fixed rate of 2.46% to a range of UK and North American investors with maturities varying between 33 and 40 years. Lloyds Bank acted as the sole placement agent for the transaction. 

Muir Sanderson, Chief Financial Officer of 911½ñÈÕºÚÁÏ, said: "Strengthening and diversifying our revenues is a key part of the College’s strategy. This successful bond shows a shared belief in 911½ñÈÕºÚÁÏ’s long-term vision. The initial offering was four times oversubscribed, enabling 911½ñÈÕºÚÁÏ to increase the transaction to £200m. This is a mark of recognition for 911½ñÈÕºÚÁÏ’s academic and financial strength.

"This support from the investment community will help us to deliver our ambition for growth and maintain our position at the forefront of education, research and innovation.”