University of Ontario Institute of Technology successfully places $220-million bond issue
October 19, 2004
UOIT has just completed an extensive construction program, including three academic buildings and a beautiful campus library, with plans underway for the construction of a $25-million engineering building starting in March 2005.
"The new buildings and our leading-edge technology will provide generations of students and faculty with the very best spaces for learning and research," said Dr. Gary Polonsky, the university's President and Vice-Chancellor.
The university concluded its first bond issue on October 15, 2004. The offering was of Series A Debentures, which will bear interest at the rate of 6.351 per cent per annum, calculated semi-annually in arrears and payable in blended semi-annual instalments of principal and interest. Payments will equal approximately $37.502 per $1,000 principal amount, and will be made on the 15th day of April and October of each year commencing on April 15, 2005. The maturity date of the debentures is October 15, 2034. Agents for the university were BMO Nesbitt Burns Inc. and CIBC World Markets Inc.
The university's academic facilities offer an exceptional atmosphere for learning, including bright, spacious study areas and wired and wireless computer access throughout the campus. All buildings incorporate advanced green technology, including a heating system that draws on the warmth of the earth. Enrolment at the university currently stands at 1,850 full-time students, and is expected to rise to 6,500 students by 2010.
About the University of Ontario Institute of Technology
As the province's newest university, the University of Ontario Institute of Technology provides a unique combination of academic knowledge, vibrant student life, leading-edge research, and hands-on skills. The university offers career-focused undergraduate degree programs in the fields of business and information technology, health sciences, social science, applied science, the pure sciences, engineering, and education. It is also developing leading-edge research and graduate programs, and is Ontario 's first laptop-based university. Sharing selected services with Durham College , UOIT welcomed its first students in September 2003. To find out more, visit www.uoit.ca or call 1.866.844.8648.
About Ontario Tech University
A modern, forwarding-thinking university, Ontario Tech advances the discovery and application of knowledge to accelerate economic growth, regional development and social innovation. We inspire and equip our students and our graduates to make a positive impact in a tech-focused world. For us, it’s not only about developing the next tech breakthrough. Understanding and integrating the social and ethical implications of technology differentiates us as university. Learn more at ontariotechu.ca.
Media contact
John Schofield
Communications and Marketing
Ontario Tech University
905.721.8668, ext. 2162
john.schofield@uoit.ca
