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Fri April 11, 2014
UConn Bonds See Record Orders
UConn's basketball dominance is great for school spirit, but it's also helping raise money the university puts towards improving its facilities.
Each year, the state treasurer's office issues UConn Bonds. If you buy them, you're investing in things like the improvements to the university's health center, or building new dorms or study halls on its various campuses.
Assistant Treasurer Sarah Sanders said they've always sold well each year since they were first issued in 1995. But this year was special.
"They only are issued once a year," Sanders said. "Investors typically do have a lot of enthusiasm. We do get good order flow. This year, we had record order flow. We had individual investors place orders for $168 million, which is the highest level for any UConn bond sale in the 18-year history."
The state's timing was spot on: the bonds aren't always issued to coincide with March Madness, but this year, they were first offered to individual investors last Friday, as the UConn men played their Final Four game against Florida. As a result of the success of the bond sale, the University now has $120 million of new funding.