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Amid Brexit worry, Oxford bond success shows UK universities another course

The day after Oxford bond launch, it was among the top 20 traded issues in the whole of Europe, according to Trax, a subsidiary of debt trading platform MarketAxess

Marc Jones | Reuters  |  London 

The success of Oxford University's $1 billion bond, the first in its 1,000-year history, is good news for Britain's top academic institutions at a time of anxiety over Brexit-related funding shortfalls and calls to scrap student tuition fees. The 100-year bond, launched on Dec. 1 with a 2.5 percent coupon, has taken the market for deals for UK universities and colleges to a new level on a par with such big U.S. names as Harvard and Yale. Technically, the bond was the biggest from any university in the world. Buying interest equalled $2 billion or double its face ...

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First Published: Mon, December 18 2017. 00:21 IST