Debt Overview

Debt Management coordinates the issuance of bonds, notes and master leases. The department is responsible for receipt and disbursement of borrowed funds, compliance with regulations, and the accounting of the university’s tax-exempt and taxable debt. Payments of principal, interest and other bond expenses are handled by this area. Management and oversight of the university’s short- and long-term capital needs is another function of this area.

METRICDATA (as of June 30, 2020)
Par Outstanding$2,955,847,552
Credit RatingsAa1/AA/AA
FY20 Debt Service$182,431,093
Weighted Avg. Cost of Capital3.42%
Weighted Avg. Life34.21 years

SUMMARY FOR 6/30/2020

Statements and Resources 

Types of Debt

General Receipts Bonds

Senior Lien Obligations consisting of bonds secured by the pledge of the University’s General Receipts.  The University has previously issued Senior Lien Obligations and may at any time incur additional Senior Lien Obligations secured by a pledge and lien on all General Receipts of the University and such pledge is senior in priority to the pledge and lien securing the Special Purpose General Receipts Bonds.

Special Purpose General Receipts Bonds

Subordinated obligations of the University, payable solely from the Special Purpose Pledged Revenues.  The pledge and lien on Special Purpose Pledged Revenues is subordinate to the pledge and lien of the Senior Lien Obligations backed by the University's General Receipts.  Special Purpose Pledged Revenues include all revenues, fees, rentals, rates, charges, insurance proceeds and other moneys derived by the University from the ownership or operation of Special Purpose Revenue Facilities.

Variable Rate Debt 

Total Outstanding (as of June 30, 2020): $317,715,000

DATED DEBTOUTSTANDINGSERIESRATE PERIODFINAL MATURITY
12/23/1997$3,350,0001997Weekly12/1/2021
12/1/1999$1,640,0001999 B1Weekly12/1/2021
11/30/2001$6,765,0002001Weekly12/1/2021
9/11/2003$5,190,0002003 CUp to 270 Days6/1/2021
8/10/2005$8,120,0002005 BWeekly6/1/2021
9/29/2008$17,650,0002008 BWeekly12/1/2021
9/28/2010$125,000,0002010 EWeekly6/1/2035
10/1/2014$150,000,0002014 BWeekly12/1/2044