University of North Texas Refunding and Improvement Bonds: $215 Million

This week’s featured bond comes from the state of Texas. The Board of Regents of the University of North Texas is issuing revenue financing system refunding and improvement bonds in the amount of $215 million the week of January 02, 2016. These bonds are scheduled to be issued as a single series, for the purposes of improving University infrastructure, and refunding previously issued bonds and commercial paper. The bonds are secured by pledged revenues consisting of all net revenues available to the board, except certain state appropriations. Total net revenues in FY 2016 were $773 million, and net tuition revenue has grown by at least 4.7% every year from FY 2011-2015. Further details on the purposes, security, tax-status, and other matters pertaining to these University of North Texas refunding bonds can the found in the preliminary official statement, provided by MuniOS.

The University of North Texas is located in the Dallas-Fort Worth-Arlington, TX Metropolitan Area, which as of November 2016 has an unemployment rate of 3.5%, which is 0.1% lower than the same time last year, and 1.1% lower than the national rate.

Provided at left is a quick snapshot of financial characteristics of the University of North Texas, along with the medians for other public higher education institutions for 2014-2015, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database. These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.