The University of Manchester announces issue of £300m 4.25% Bonds due 2053

04 Jul 2013

Bonds assigned a rating of Aa1 by Moody's

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This communication is not an offer of securities for sale in the United States or any other jurisdiction where to do so would be unlawful. The Issuer has not registered, and does not intend to register, any portion of the securities in any of these jurisdictions and does not intend to conduct a public offering of securities in any of these jurisdictions. In particular, the securities have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws. Outside the United States, the offer is being made to non-U.S. persons in accordance with Regulation S under the Securities Act.

The University of Manchester today announces that it has issued £300 million in principal amount of its 4.25% Bonds due 2053 (the “Bonds”).

The Bonds have been assigned a rating of Aa1 by Moody's, and were priced at a spread of 0.80% over the relevant reference gilt.

The University will use the net proceeds from the Bonds for general corporate purposes, including the continuation of its £1bn Campus Master-plan.

Professor Dame Nancy Rothwell, President and Vice-Chancellor of The University of Manchester, said: "We are delighted by the success of this issue, and by the strong support shown by investors in the University and its mission.

“The proceeds will allow us to further our ambition to be a truly world-class university by delivering a single, outstanding campus for The University of Manchester, with our beautiful old buildings standing alongside the very best modern facilities for our research and our students.”

Barclays, HSBC and The Royal Bank of Scotland acted as Joint Bookrunners and National Australia Bank as Co-Manager, and Rothschild provided independent debt advice to the University.

Any investment decision made in connection with the Bond issue MUST be based solely on the information contained in the final Prospectus dated 2 July 2013 relating to the Bonds.