University secures £525m of debt financing for expansion



The University of Bristol has secured £525m of debt financing to support a major expansion strategy.

The three-part simultaneous transaction – advised by EY – included a debut private placement of £200m, an amended and increased revolving credit facility and amendments to £250m of existing long-term bilateral loans.

The funds will enable the university to deliver projects including a new library, the redevelopment of Tyndall Place and a new campus at Temple Quarter.

“We were delighted to be appointed to work with the University of Bristol on this complex financing process,” said Luke Reeve, partner in EY’s capital and debt advisory team.

“The successful execution of the parallel financings ensures that the funding is now in place to grow the estate and maintain its position as a world-renowned university.

“This transaction is an example of the growing appetite and need for institutions of this kind to access the debt capital markets to meet their capital investment programmes and secure their long-term future.”

The university was able to arrange the private placement issuance itself, ensuring a more cost-effective and efficient process.

This enabled the university to achieve a competitive cost of funds to underpin its long-term strategy, alongside the amended existing debt facilities.

“The financing terms that EY helped the university to achieve have delivered significant long-term value,” added Robert Kerse, chief financial officer at the university.

“EY’s service was extremely responsive and they demonstrated real dedication to assisting the university to deliver its financing plans.”


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