The University of Connecticut is preparing to bring nearly $581 million in bonds and notes to market next week to fund campus construction projects and refinance older debt under its long-running UConn 2000 capital program. In a preliminary official statement dated March 2, the university outlined plans to issue $432.3 million of general obligation bonds and $148.5 million of taxable bond anticipation notes. The bonds are expected to be offered by negotiated sale the week of March 9. Most of the borrowing will finance capital improvements to various university facilities under the UConn 2000 Infrastructure Improvement Program, a multidecade initiative to modernize, rehabilitate and expand campuses statewide, including UConn Health. Proceeds from the new-money portion of the bonds and the notes will be deposited into the program’s construction account to fund Phase III projects. Part of the borrowing will be used to refinance some of UConn’s 2015 and 2016 general obligation bonds.
UConn plans $581M bond sale to fund capital projects, refinance debt
