Surrey Univ follows King’s into US PPs

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By Silas Brown
14 Apr 2021

The University of Surrey has issued a US private placement, according to market sources, less than a month after King’s College, London returned to the market. Institutional investors are regaining confidence in the UK’s higher education sector, after a year in which revenues shrank and student intake became uncertain.

Lloyds Bank is understood to have arranged the transaction for Surrey. The deal closed at a final size of £110m, with 20 and 30 year maturities.

King’s College closed a £125m deal with 29, 40 and 50 year pieces in March, in the only other outing from a UK ...

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