University of Texas Boosts Loan Programs 43% to $2.5 Billion
The tower at the University of Texas in Austin.
Photographer: Sergio Flores/The Washington Post/Getty ImagesThe University of Texas System increased part of its short-term lending program to $2.5 billion, boosting the capacity of two of its commercial paper series by more than 40%.
The programs — facilitated by several of Wall Street’s largest banks — can be used to fund projects or refinance notes, according to a securities notice filed with the Municipal Securities Rulemaking Board. Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo & Co. are involved in the financing, according to the memorandum dated Oct. 1. The system has several commercial paper lines.