The Regents of the University of
California General Revenue Bonds 2018
Series AZ & 2018 Series BA (Taxable)

The Regents Of The University Of California

Invest in the University of California Bonds today! Proceeds of the 2018 Bonds will be used to finance or refinance all of a portion of certain projects of the University of California. See the summary below and read the offering documents under "Documents" for full details.


Issuance characteristics
  • Contains callable maturities
  • Federally tax exempt
  • Revenue
  • Negotiated sale

About this bond issuance

  • Purpose

    The 2018 Bonds are being issued for the purpose of financing or refinancing projects at the University, as well as refunding a portion of The Regents' outstanding General Revenue Bonds, 2009 Series R (Taxable-Build America Bonds) in the aggregate principal amount of $112,683,100*.

    In addition to the 2018 Bonds, The Regents expects to issue The Regents of the University of California Limited Project Revenue Bonds, 2018 Series O and 2018 Series P (Taxable) (together, the "2018 Limited Project Revenue Bonds") in the aggregate principal amount of $834,060,000* on or about June 5, 2018.  The 2018 Limited Project Revenue Bonds will be issued for the purpose of financing and refinancing the acquisition, construction, improvement, and/or renovation of certain facilities of the University, including the refunding of a certain portion of the 2009 Series R Bonds.  Issuance of the 2018 Bonds is not contingent on issuance of the 2018 Limited Project Revenue Bonds, and the 2018 Bonds and 2018 Limited Project Bonds may or may not be issued concurrently.

    *Preliminary, subject to change

  • Obligor

    The Regents of the University of California

  • Issuer

    The Regents of the University of California

  • Authority

    The 2018 Bonds are authorized to be issued pursuant to the powers and authority of The Regents of the University of California ("The Regents") contained in Article IX, Section 9 of the Constitution of the State of California.  The 2018 Series AZ Bonds are issued in accordance with the provisions of an indenture dated as of September 1, 2003 (the "General Revenue Bond Indenture") as previously amended and supplemented and as further supplemented by the Fifty-Third Supplemental Indenture, dated as of June 1, 2018; and the 2018 Series BA Bonds are issued in accordance with the provisions of the General Revenue Bond Indenture as previously amended and supplemented and as further supplemented by the Fifty-Fourth Supplemental Indenture, dated as of June 1, 2018 (as so amended and supplemented, the "Indenture"), by and between The Regents and The Bank of New York Mellon Trust Company, N.A. as successor trustee (the "Trustee").

  • Security

    The 2018 Bonds are limited obligations of The Regents, payable solely from General Revenues, the proceeds of the Bonds and any other amounts held in any fund or account established pursuant to the Indenture (excluding the Rebate Fund). The 2018 Bonds and all other Bonds issued pursuant to the Indenture are entitled to the equal benefit, protection and security of the pledge and covenants and agreements of the Indenture.

  • Trustee

    The Bank of New York Mellon Trust Company, N.A.

  • Special attributes

    The 2018 Series AZ Bonds maturing on or before May 15, 20__ are not subject to redemption prior to their respective stated maturities. The 2018 Series AZ Bonds maturing on or after May 15, 20__ are subject to redemption prior to their respective stated maturities at the option of the Regents as a whole or in part on any date on or after May 15, 20__ at a redemption price equal to the principal amount of the 2018 Series AZ Bonds called for redemption, together with interest accrued thereon to the date fixed for redemption without premium.

    The 2018 Series BA Bonds maturing on or after May 15, 20__ are subject to redemption prior to their stated maturities at the option of The Regents, in whole or in part and if in part among maturities to be designated by the Regents on any date at a redemption price equal to the greater of (1) 100% of the principal amount of the 2018 Series BA Bonds to be redeemed or (2) the sum of the present value of the remaining scheduled payments of principal and interest to the maturity date of such 2018 Series BA Bonds to be redeemed.

    See POS in Documents tab for further information.

About the issuer

Contact information
Address
1111 Franklin St Oakland CA 94607

Ratings

Ratings

AA

S&P

Aa2

Moody's

AA

Fitch

Financing team

Neighborly Securities
Neighborly is a co-manager on this issuance.
Underwriters
Municipal Advisors
Bond Counsel