Board of Visitors minutes April 7, 2006 | ||
Commercial Paper
Commercial paper provides the University with interim financing for projects in anticipation of philanthropy or planned issuance of long-term debt. The use of commercial paper also provides greater flexibility on the timing and structuring of individual bond transactions. This flexibility also makes commercial paper appropriate for financing equipment and short-term operating needs. The University recognizes that the amount of commercial paper is limited by the Debt Policy ratios, the University’s variable-rate debt allocation limit, and the University’s available liquidity support.
Board of Visitors minutes April 7, 2006 | ||