Investor Relations Dashboard

AFS
$1,121m

The Auxiliary Facilities System (AFS) includes Housing, Parking, Recreation, Athletic and Student Services Facilities.

COPS
$112m

Certificates of Participation (COPS) include Utility Infrastructure, Information Technology and Academic Facilities projects.

ESCO
$28m

Energy Service Contracts (ESCO) includes the UIUC Veterinary Medicine Facility and the UIC Science and Engineering Building.

HSFS
$101m

The Health Services Facilities System (HSFS) includes the University of Illinois Hospital and associated clinical facilities.

UICSC
$16m

The UIC South Campus Development (UISCS) is the land acquisition and infrastructure for the South Campus in Chicago.

Debt Information

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

Auxiliary Facilities System (AFS)

$1.122 billion outstanding 6/30/2020, $107.3m estimated FY21 debt service
Credit Ratings (Moody's/S&P): A1 / A-
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 2019, the Auxiliary Facilities System had total operating revenues of $366 million, and the University of Illinois System had over $1.19 billion in student tuition and fee revenue
On July 9, 2020, the Auxiliary Facilities System Revenue Bonds Series 2020 A & B were issued with a combined principal amount of approximately $90,950,000. The Series 2020 A & B bonds refunded and restructured all outstanding Series 2010A bonds, refunded the variable rate Series 2014C bonds to fixed interest rate, and financed approximately $20m of new projects. Offering documents are available on the University's EMMA Issuer Homepage.

Certificates of Participation (COPS)

$112.07 million outstanding at 6/30/2020, $40.7m estimated FY21 debt service
Credit Ratings (Moody's/S&P): A1 / A-
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 2019

Energy Service Contract (ESCO)

$27.8 million outstanding at 6/30/2020, $4.215 m estimated FY21 debt service
ESCO's are contracts which finance energy conservation measures to existing University Facilities.

Health Services Facilities System (HSFS)

$101.385 million outstanding at 6/30/2020, $9.2m estimated FY21 debt service
Credit Ratings (Moody's/S&P): Baa1 / A-
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.

UIC South Campus (UICSC)

$16.215 million outstanding at 6/30/2020, $8.1m estimated FY21 debt service
Credit Ratings (Moody's/S&P): A2 / A-
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 website maintained by the Planning and Development Department of the City of Chicago. City of Chicago Roosevelt/Union TIF.

Last reviewed: August 28, 2020