Home > News > U of L saves $90 million by restructuring debt
By Kyeland Jackson —
U of L saved $90 million recently by restructuring it’s debt.
The university’s current debt is around $251 million. Revenue from Jim Patterson Stadium, the Home of the Innocents and the Health Sciences Campus parking garage pay it down. Chief Financial Officer Harlan Sands reported U of L’s renegotiation cut interest rates in half to two percent. The previous rate was four percent.
“After reviewing our debt profile and our existing payment structure, we made (the) decision to take advantage of lower interest rates and refinance a significant amount of our existing debt,” Sands told The Cardinal in an email.