McMaster’s ambitious strategic plan along with its long-serving foundation of financial management has resulted in a high market demand for the university’s new bond offering of $150 million. This latest round in additional financing will support McMaster’s strategic objectives, including Canada’s Global Nexus for Pandemics and Biological Threats.
“This is the time for McMaster to seize opportunities and to grow our strengths in key areas and to support our ongoing role as one of the world’s top 70 universities,” says president David Farrar. “The ability to raise new funds is testament to our research and academic strengths and prudent financial management.”
McMaster’s financing will support key existing and future strategic capital initiatives, including the new downtown residence for graduate students and the expansion of the student athletic centre.
An important component of this $150 million in new financing is the $25 million directly issued as a green bond, which will finance new and existing sustainability projects and support McMaster’s net zero objectives. The university is focused on climate-change and mitigation efforts as it, and society, transition to a sustainable economy.
“Overall, this latest financing round and its excellent market interest is evidence of McMaster’s combined strengths as a student-centered and research-intensive university that is inclusive, community engaged, and operationally excellent,” says Dee Henne, AVP (Administration) and Chief Financial Officer. “This issuance secures support for our updated strategic plan and underpins the work we have ahead to advance our vision for human and societal health and well-being. It took a large McMaster village to prepare for this bond issuance and I am thankful for these many combined efforts delivering on this objective.”