Debt Management at the University is overseen by the University’s Chief Financial Officer and the Treasurer. In addition, any proposed borrowings need to be approved by the University’s Executive Committee. The purpose of bonding is primarily to support construction of campus facilities, major renovations, and repairs.
The University had approximately $661 million in outstanding fixed rate long-term debt as of June 30, 2022.
The University’s credit worthiness has been assessed and rated by Moody’s Investors Service (Moody’s) and Standard & Poors (S&P). Moody’s currently rates long-term debt of the University Aa3 with a stable outlook. S&P currently rates long-term debt of the University AA- with a stable outlook.
| Series* Type | Par Amount Outstanding | Cost of Capital** | Next Call Date | Final Maturity |
| 2013 Tax Exempt | 4,055,000 | 3.5% | N/A | 12/01/2023 |
| 2019 Tax Exempt | 317,720,000 | 3.3% | 12/01/2029 | 12/01/2049 |
| 2020A Tax Exempt | 114,945,000 | 1.8% | 06/01/2030 | 12/01/2035 |
| 2020B Taxable | 224,410,000 | 3.0% | 06/01/2055 | 12/01/2055 |
*As of June 30, 2022
**Weighted Average Cost of Capital is currently 3.07%