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Imperial College London completes successful private placement of 50-year bond


For immediate release
Monday 17 July 2006

Imperial College London has taken out a £50 million private placement to support its world class teaching and research, the College announced today.

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The unsecured funding, borrowed on a 50 year term, will support the College's academic mission, as well as providing capital for new student facilities and other estate projects.

With a highly competitive cost of funds (below 5%), the private placement demonstrates the value placed on the College by the financial markets. It provides the College with a pool of freely disposable capital to invest at its discretion, and means the College is not wholly reactive to changes in the external funding environment.

Imperial's Rector Sir Richard Sykes Opens in new window says:

"We are borrowing these funds from a position of financial strength. As Imperial approaches its centenary year, we want to make absolutely sure that we begin the next 100 years on a strong footing. Universities are not businesses, but they must still be managed according to a sound financial strategy. The fact that we have received this loan on such favourable terms is a good sign that at Imperial we are doing just that."

The College is ranked in the top three universities in Europe for science, technology and medicine, and is ranked 13th overall in the World, by the Times Higher Education Supplement

The College's total borrowing facilities now amount to £173M, following financings arranged in 2003 and 2005. The College has so far drawn down £123M of this total funding.

The College was able to arrange the facility without undertaking a formal credit rating process, an indication of the College's strong perceived credit-worthiness.

The Royal Bank of Scotland acted as sole agent for the private placement

ENDS

For further information contact:

Abigail Smith
Imperial College London Press Office
Tel: 020 7594 6701
Email: abigail.smith@imperial.ac.uk

Martin Knight
Chief Operating Officer
Imperial College London
Tel: 020 7594 1403
Email: m.knight@imperial.ac.uk

Notes to Editors:

About Imperial College London

Consistently rated in the top three UK university institutions, Imperial College London is a world leading science-based university whose reputation for excellence in teaching and research attracts students (11,500) and staff (6,000) of the highest international quality.
Innovative research at the College explores the interface between science, medicine, engineering and management and delivers practical solutions that enhance the quality of life and the environment - underpinned by a dynamic enterprise culture.
Website: www.imperial.ac.uk

The College's researchers are world leaders in their fields tackling problems in interdisciplinary teams. Some of their recent contributions include:

*pioneering of robotic surgery;
*development of biomaterials for replacement and reconstruction of worn or damaged body parts;
*hosting the Rolls Royce Vibration Laboratory where work crucial to the design of improved engines is carried out;
*understanding malaria transmission and the application of genetic manipulation technologies;
*new approaches to drug discovery.

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