U. of Cambridge Considers a Large Bond Issue, the First in Its 800 Years

The University of Cambridge needs more than $300-million for several infrastructure projects, and for the first time in its 800-year history, the British institution is considering turning to the bond markets to raise the money, The Wall Street Journal reported. Andrew Reid, the university’s director of finance, said Cambridge was “considering both issuing bonds and borrowing from banks.” With public funds for higher education in Britain under increasing pressure, other universities are likely to consider similar moves, the Financial Times reported — a further step in the direction recently charted by British institutions toward embracing American-style fund-raising and financing tactics.