The University has today opened the market at the London Stock Exchange (LSE) to mark the University’s recent successful £300m public bond issue.
President and Vice-Chancellor Professor Sir Christopher Snowden was joined by Lady Snowden and colleagues from the University and its professional advisors in celebration of the 40-year bond, issued on Wednesday 12 April, representing the largest capital injection in the University’s 155-year history.
The University’s student social enterprise society, Enactus Southampton, also took part following their success in retaining the Enactus UK national title and a berth in the Enactus World Cup later this year.
Speaking on the occasion, Professor Snowden said:
I am delighted to represent the University of Southampton at the London Stock Exchange on this great occasion, to celebrate the success of our bond issue, which has been a huge vote of confidence by investors in our university and our strategy for the future. Southampton is an exceptional institution with a global reputation for our education, research and innovation. This investment will ensure we continue to provide a world-class teaching and research environment for students and staff, all underpinned by cutting edge technology.
The bond will mature in 2057 and is subject to a fixed interest rate of 2.25% – a record low interest rate for a public bond issued by a UK university. It will provide around half of a £600m total investment the University is planning over the next 10 years, the remainder coming from internally generated funds.
A Q&A about the University’s bond can be found by clicking here.
