Debt Summary

Outstanding debt and debt profile as of October 2, 2017; subject to change without notification.

Current debt

UC Currently has approximately $18.3 billion outstanding under the GRB, LPRB and MCPRB credits:

 current debt chart

Other third party debt consists of:

  • California Infrastructure and Economic Development Bank (UCSF Neuroscience Building 19A) Series 2010A & 2010B (Taxable - Build America Bonds)
  • California Infrastructure and Economic Development Bank (Sanford Consortium Project) Series 2016A

University of California, Annual Debt Service, 2018-2050

 debt profile chart

Notes

  • Data is as of 10/2/2017
  • GRB Series Z, AH, and AX assume principal is amortized FY 2038 – 2042. Series AH matures on 7/1/2019. Series AX matures 7/1/2025. GRB variable rate Series Z (taxable) assumes interest at 3.00%. GRB variable rate Series AH (taxable) assumes interest at 1.796% through 7/1/2019, and then at 3.00% thereafter. GRB Series AX assumes principal is amortized FY 2038  – 2042.  The series assumes interest at 3% after 7/1/2025.
  • GRB Series AK assumes principal is amortized FY 2038 – 2044. The series has a mandatory tender on 05/15/2023 and assumes interest at 5% after 5/15/2023.
  • GRB Series AT assumes principal is amortized FY 2029 – 2036. The series has a mandatory tender on 05/15/2021 and assumes interest rate at 5% after 5/15/2021.
  • GRB Series AU (taxable) assumes principal is amortized FY 2022 – 2029.  The series matures on 5/15/2021 and assumes interest rate at 6% after 5/15/2021.
  • GRB Series AL (variable rate) assumes interest at fixed payer swap rates until 10/1/2023 and then at 2.75%.  MCPRB Series B-1 & B-2, MCPRB Series C-2, and MCPRB Series K (all variable rate) assume interest at associated fixed payer swap rates. Series K assumes the hedged portion pays interest at the fixed payer swap rate and the unhedged portion pays interest at 2.75%.
  • UC 3rd Party Debt includes California Infrastructure and Economic Development Bank (Sanford Consortium Project) Series 2016A, California Infrastructure and Economic Development Bank (UCSF Neurosciences Building 19A) Series 2010A & 2010B (Taxable - Build America Bonds).
  • FTS include California Statewide Communities Development Authority Student Housing Revenue Bonds Series 2011, 2016 and 2017 (Irvine Student Housing).
  • Debt service does not include federal subsidies for BABs interest payments.
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