Leading international law firm Clifford Chance has advised University College London (“UCL”) on its debut bond issuance, which was a sustainability bond issuance. UCL will use the proceeds to finance the acquisition and financing of sustainable projects in accordance with its Sustainability Framework. Such projects include the construction of net zero carbon buildings, installation of renewable power and financing support of PhD level charitable research conducted through the UCL Doctoral Training Programmes.
The transaction marks the first listed sustainability issuance by a UK university. This transaction builds on the Firm’s involvement on bond issuances in the higher education sector having previously advised on issuances by the University of Oxford, University of Cambridge, University of Leeds and Cardiff University.
The deal team were David Bickerton, Matt Fairclough, Gopal Bains and Michael Yianni.
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