Chicago, May 28 – University College London sold a €300 million offering of 1.625% sustainability bonds due 2061 (Aa3) on Friday, according to a notice.
The notes priced with a spread of 50 basis points over the relevant reference gilt.
Proceeds will be used for the acquisition, financing or refinancing, in whole or in part, of new or existing eligible sustainable projects, as set out in the college’s sustainable financing framework.
Barclays, HSBC and NatWest Markets worked as joint bookrunners.
The issuer is a progressive university with more than 41,500 students from over 150 countries.
| Issuer: | University College London
|
| Issue: | Sustainability bonds
|
| Amount: | £300 million
|
| Maturity: | 2061
|
| Bookrunners: | Barclays, HSBC and NatWest Markets
|
| Counsel to issuer: | Pinsent Masons LLP, Clifford Chance LLP and Linklaters LLP
|
| Coupon: | 1.625%
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| Spread: | Gilt plus 50 bps
|
| Trade date: | May 28
|
| Settlement date: | June 4
|
| Ratings: | Moody’s: Aa3
|
| Distribution: | Regulation S
|
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