SOUTHAMPTON University has announced the receipt of a £300 million cash injection.

The public bond, which comes in the form of loans from city investors, will be paid back in full in 40 years time with fixed interest repayments of 2.25 per cent paid back until then. 

The bond is the largest capital injection in the university’s 155 year history and will provide half of a £600m total investment the university is planning over the next 10 years, with the remainder coming from internally generated funds.

In a statement released to the Daily Echo a university spokesperson said: “The bond issue was at a record low interest rate for a public bond issued by a UK university.”

University of Southampton president and vice-chancellor Professor Sir Christopher Snowden said: “The success of our bond issue is a huge vote of confidence by investors in our university and our strategy for the future.

“The University of Southampton is an exceptional university with a global reputation for our education, research and innovation.

“This investment will ensure we continue to provide a world-class teaching and research environment for students and staff, all underpinned by cutting edge technology.”

University of Southampton chair of council Dr Gill Rider said: “I would like to congratulate the executive team on the successful issue of the bond, securing investment in the strategy which has the full support of the council.

“It is vital the university invests with a long-term view of its global position and reputation, and the bond proceeds will allow us to make transformational investment in our campuses and supporting infrastructure.”

The university will announce further plans for its programme of campus improvements over the coming twelve months.