Lincoln- The University of Nebraska took $345 million in municipal bonds to market on Wednesday as part of its effort to tackle a growing list of facilities projects. As the largest university issuer this week, NU found investors ready to buy.

The sale netted $400 million in financing to begin addressing an $800 million backlog of renovation and replacement projects at NU campuses in Lincoln, Omaha and Kearney, as well as the Nebraska College of Technical Agriculture in Curtis. Wednesday’s sale was the largest issuance of new bonds in NU’s history, and the second-largest bond sale after the university refinanced $433 million in bond debt and secured an additional $130 million in 2019.

With financing in hand, NU will begin acting on priorities developed by campus leadership teams to tear down and replace aging facilities or renovate buildings with new roof, window and HVAC systems in the next few years.

A total of 20 projects are slated for “major building improvements,” according to a preliminary list used for internal discussions that was shared with the Journal Star.

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