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System Facility Revenue Bonds

System Facilities Revenue Bonds Program

Provides generally long-term financing for acquisition, construction, renovation or expansion of various University facilities. The principal and interest of the bonds are payable from, and secured by a first lien on and pledge of, designated revenues of the University’s revenue-producing system facilities, including campus bookstore receipts, housing and dining charges, hospital and patient services, and parking collections, as well as certain assessed fees, such as recreational facility fees, stadium surcharges, and student activity fees, and a portion of tuition and fees attributable to such facilities (collectively, “System Facilities Revenues”).

The University must continuously operate and maintain the facilities financed by the bonds and maintain sufficient rates and charges for use of such facilities as will allow the University to meet annual debt service requirements. Additionally, System Facilities Revenues, in aggregate, must at all times exceed 200% of the annual debt service requirements for the bonds in any given fiscal year.

Credit Ratings
Moody's Credit Rating Standard & Poor's Rating
Aa1 rating for fixed rate bonds AA+/stable rating for fixed rate bonds
P-1 rating for commercial paper A-1+ rating for commercial paper
Aa1/VMG1 rating for variable-rate demand bonds AA+/A-1+ dual rating for variable-rate demand bonds

 

University of Missouri Debt Capital Structure
Series Final Maturity Par Amount Outstanding
System Facilities 2006A 11/1/2026 118,590,000
System Facilities 2007A 11/1/2017 17,480,000
System Facilities 2007B 11/1/2031 99,445,000
System Facilities 2009A (taxable) 11/1/2039 256,300,000
System Facilities 2009B 11/1/2021 48,340,000
System Facilities 2010A (taxable) 11/1/2041 252,285,000
System Facilities 2011 11/1/2027 47,900,000
System Facilities 2012A 11/1/2019 105,155,000
System Facilities 2013A 11/1/2023 11,325,000
System Facilities 2013B (taxable) 11/1/2043 150,000,000
System Facilities 2014A 11/1/2037 294,510,000
System Facilities 2014B 11/1/2054 150,000,000
Commercial Paper Program 11/1/2035 38,478,000

Reviewed 2014-11-03.