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Debt Information

Click each debt silo below to explore more about outstanding balances, ratings and pledge of repayment across each of our debt Silos.

  • $1.029 billion outstanding 6/30/2018, $96m estimated FY19 debt service
  • A1 / A- Credit Ratings
  • (Simple Credit Statement) Auxiliary Facility System Revenue Bonds have a payment pledge on the following revenue streams, the Net Revenues of the Auxiliary Facilities System, Student Tuition and Fees, and the Bond and Interest Sinking Fund.
  • For Fiscal Year 2018, the Auxiliary Facilities System had total operating revenues of $363 million, and the University of Illinois System had over $1.19 billion in Student Tuition and Fee revenue
  • Subject to the prior pledge to and lien of the Refunded Bonds pending their retirement from the irrevocable escrow accounts established for that purpose, the Bonds are payable from and secured by a pledge of and lien on (i) the Net Revenues of the System, (ii) Student Tuition and Fees (subject to prior payment of operating and maintenance expenses of the System, but only to the extent necessary), and (iii) the Bond and Interest Sinking Fund Account. All such income and revenues are irrevocably pledged for the prompt and punctual payment of the principal of, premium, if any, and interest on the Bonds according to their terms. All Bonds are equally and ratably secured by the pledge and lien without priority or preference one over the other (except from the prior pledge to and lien of the Refunded Bonds) by reason of series designation, denomination, number, maturity date, terms of redemption prior to maturity, date of sale or delivery or otherwise.All of the Bonds (other than the Refunded Bonds) are co-equal as to the pledge of and lien on all of the Net Revenues of the System, Student Tuition and Fees and Bond and Interest Sinking Fund Account, as described above, securing the payment of the Bonds and share ratably, without preference, priority or distinction as to the source or method of payment and security for the Bonds.
  • $108.76 million outstanding at 6/30/2018, $9.1m estimated FY19 debt service
  • Baa1 / A Credit Ratings
  • The bonds are payable from and secured by a pledge of and lien on monies in the Bond and Interest Sinking Fund Account.The Bonds and Additional Parity Debt (as hereinafter defined) issued under the Bond Resolution are payable from and secured by a pledge of and lien on monies, as the following sources: (i) the Net Revenues of the System, (ii) Medical Service Plan (MSP) Revenues in an amount not to exceed in any Fiscal Year the amount of scheduled debt service payments on the bonds and any mandatory transfers as described in the bond resolution for such fiscal year, and (iii) College of Medicine Tuition in an amount not to exceed in any Fiscal Year the amount of scheduled debt service payments on the bonds and any mandatory transfers as described in the Bond Resolution for such Fiscal Year, subject to the Prior Pledge in favor of the Prior Pledge Bonds.
  • $180.25 million outstanding at 6/30/2018, $41.2m estimated FY19 debt service
  • A1 / A- Credit Ratings
  • Certificates of Participation are payable from state appropriations and legally available University funds (primarily tuition and fees, not to exceed debt service and subject to a prior pledge). The Security for each issue of COPs is the underlying physical project.
  • The University of Illinois System had $1.19 billion in Student Tuition and Fee revenue for Fiscal Year 2018
    • $29.905 million outstanding at 6/30/2018, $7.6m estimated FY19 debt service
    • A2 / A- Credit Ratings
    • The South Campus development bonds were issued to fund land acquisition and development of the newly formed Roosevelt/Union TIF district. The project, which began in 1999 under agreements between the University of Illinois Chicago and City of Chicago, purchased and developed land directly to the south east of the Chicago campus. At the time of issuance, the 58 acre area was characterized by numerous dilapidated, deteriorated and obsolete buildings and vacant lots. The development projected funded by these bonds has seen tremendous success and benefits many residents and students with vibrant businesses and residences.
    • The South Campus Bonds are payable from and secured by a pledge of and lien on: (i) Revenues of the Project derived from Incremental Taxes paid to the Board pursuant to the TIF ordinance applicable to the Area, the Redevelopment Agreement and the City Note; and (ii) Student Tuition and Fees, subject to a prior pledge of Student Tuition and Fees to certain outstanding indebtedness of the Board.The sources of funds described in (i) and (ii) are referred to as “pledged revenues.”No liens upon any physical properties of the Board are granted by the bond resolution.
    • Additional information regarding the Roosevelt/Union TIF may be found on the district's webiste maintained by the Planning and Development Department of the City of Chicago by clicking this link.