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University of Kentucky

Issuer Type: Public Higher Education

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Penny Cox

On behalf of the University of Kentucky, I would like to welcome you to our investor relations website. We appreciate your interest in the University of Kentucky bonds and your investment in the public infrastructure throughout our campus, which benefit the students, faculty, staff, and Lexington community. We are committed to maintaining our strong bond ratings and to being as transparent as possible with the investor community and public at large. We look forward to using this platform as an extension of our transparency.

I hope you find this website useful as you seek to better understand the credit fundamentals of the University of Kentucky. Please do not hesitate to contact our office with suggestions for how we can improve. Thank you for your interest in our bond program.

Penny Cox, Treasurer

News & Highlights

October 8, 2020

Spring 2021 Semester

LEXINGTON, Ky. (Oct. 8, 2020 University of Kentucky President Eli Capilouto shared a video message with the UK community Wednesday, Oct. 7. He discussed reasons for altering the Spring 2021 academic calendar. Please view the video above and read accompanying information below.

Dear Campus Community,

We have officially passed the half-way mark of this semester. Thanks to the good decisions you are making each day to keep our community safe, we remain hopeful about our goal to continue in-person instruction until Nov. 24 and the Thanksgiving Break.

I’m deeply grateful for the sacrifices you have made thus far.

Looking ahead, we recently announced changes to the academic calendar for the spring 2021 semester. We took the same approach toward the spring as we did the fall; the central idea is to keep students on our campus, as much as possible, until the end of the semester in the interest of health and safety.

A complete listing of our revised calendar can be found here: https://www.uky.edu/registrar/spring-2021-semester.  

As always, critically important efforts like these have many sources. Faculty leaders engaged in this process, and the University Senate Council ultimately reviewed and approved the plan. A number of our COVID-19 workstreams provided key input and the plan was reviewed by our Emergency Operations Center.

We believe this adjusted calendar provides the best option for keeping our community safe and well.

Keep updated on our COVID-19 response here: https://www.uky.edu/coronavirus/.

Eli Capilouto

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August 28, 2020

Historic Enrollment, Retention Rates for UK

By Jay Blanton Aug. 28, 2020

LEXINGTON, Ky. (Aug. 28, 2020) — The University of Kentucky has reached a historic level for enrollment and retention rates — an indication of the institution’s growing academic reputation and as a place where students succeed at high levels, according to preliminary figures released Friday.

This fall, UK has more than 31,000 students enrolled for the first time ever at 31,057, a nearly 2% increase over last year, preliminary figures show. Also, preliminary retention figures — the percentage of students who return for their second year — is at 86.4%, nearly 1.5 percentage points higher than last academic year and about 5 percentage points higher than in just Fall 2016.

“The numbers are an important indication of where we are as a first-choice academic institution,” said UK President Eli Capilouto. “Students and families — even in a time of so much anxiety and uncertainty — are choosing the University of Kentucky because we place students and their success at the center of everything that we do. A college education will be even more important in the future, as our economy changes, requiring more skills and more nimbleness. That’s what an education at UK provides — the critical thinking capacity and toolkit of skills needed to succeed in a world where change is the only real constant.”

Preliminary figures will become final in October when UK passes its census date and reports figures to the state. Some highlights of the preliminary enrollment figures released Friday, following add/drop for Fall 2020 classes, include:

  • UK’s preliminary enrollment of 31,057 is up from 30,545 last year.
  • Retention rates have increased steadily for five years, a number that signals the movement of graduation rates, the most important indicator of student success. UK now is at an all-time high for six-year graduation rates, according to last year’s figure of 66.1%.
  • UK is more diverse than at any time in its more than 155-year history. About 2,100 (nearly 7%) of students are Black, up more than 7% from last year, according to preliminary figures. Hispanic or Latino students now comprise about 5% of the student body with about 1,600 students, up more than 10% over last year.
  • The first-year class for Fall 2020 is right at 5,000 students (4,961), nearly 500 more than what UK was projecting this summer as it prepared for potential economic shocks due to the COVID-19 pandemic. That figure is down about 7% from last year’s record first-year enrollment, likely an indication of economic uncertainty and concerns, UK officials said.
  • The percentage of Black and Hispanic or Latino students in the first-year class increased slightly — 7.2% among Blacks for this year compared to 7.0% last year; 6.7% for Hispanic and Latino students compared to 6.5% last year.

While the enrollment numbers reflect the university’s growing academic reputation, they do not provide any substantive budget relief for the institution, officials said. UK has expended millions of dollars to ensure preparedness and safety in response to the global pandemic and to continue to ensure affordability and access.

For example, the University of Kentucky this fall capped tuition and mandatory fees for all full-time undergraduate students regardless of how many in-class or online classes a student is taking. UK officials estimate the change will cost the university about $5 million in lost tuition revenue.

“Given the uncertain environment in which we find ourselves, these numbers underscore the distinctive educational experience we provide for all our students — undergraduates seeking to find meaning and purpose and graduate students embarking on deep analysis and study in specific fields,” Capilouto said. “The numbers show our promise and potential for service. But we are not satisfied. We must continue to grow and position UK to thrive as we emerge from this crisis — stronger, more diverse and accepting and poised to provide the education our Commonwealth needs from us as the University of, for and with Kentucky.”

For more information, you can view these slides.

The University of Kentucky is increasingly the first choice for students, faculty and staff to pursue their passions and their professional goals. In the last two years, Forbes has named UK among the best employers for diversity, and INSIGHT into Diversity recognized us as a Diversity Champion three years running. UK is ranked among the top 30 campuses in the nation for LGBTQ* inclusion and safety. UK has been judged a “Great College to Work for" two years in a row, and UK is among only 22 universities in the country on Forbes' list of "America's Best Employers."  We are ranked among the top 10 percent of public institutions for research expenditures — a tangible symbol of our breadth and depth as a university focused on discovery that changes lives and communities. And our patients know and appreciate the fact that UK HealthCare has been named the state’s top hospital for four straight years. Accolades and honors are great. But they are more important for what they represent: the idea that creating a community of belonging and commitment to excellence is how we honor our mission to be not simply the University of Kentucky, but the University for Kentucky.

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August 24, 2020

Press Release
University of Kentucky Launches Bond Investor Relations Transparency Initiative

University of Kentucky Launches Bond Investor Relations Transparency Initiative

New website UKYBonds.com to be used to attract investors

Lexington, KY – Aug. 24, 2020 — The University of Kentucky officially launched its new investor relations (IR) website, www.UKYBonds.com, today as part of its enhanced transparency and outreach efforts to inform and attract potential investors to the university’s bond program. The open-access website will allow investors across Kentucky as well as the country to access the university’s key financial and operating data much more efficiently as well as stay informed on projects and initiatives at UK. 

The new IR website is free to all investors and is powered by BondLink, a financial technology company that has set the standard for investor transparency across the $4 trillion municipal bond market. BondLink has partnered with the Commonwealth of Kentucky on its investor engagement, as well as the Louisville and Jefferson County Metropolitan Sewer District. BondLink powers the IR websites of other major public universities, including the University of California, the University of Texas and the University of Connecticut.

“We are always looking for ways to be more transparent with the investor community about our finances and capital program,” said UK Treasurer Penny Cox. “Using new, digital channels to market our bonds and reach new investors will lead to more demand over time. That efficiency and savings will allow us to make more infrastructure improvements across the university.”

“We are proud to work with the University of Kentucky to reach investors online and through digital channels,” said Colin MacNaught, BondLink’s CEO and co-founder. “With more and more of the bond market moving online every day, issuers like UK recognize how critical it is to provide financial data much more efficiently to investors.”

To visit the University of Kentucky’s new IR website or to sign up for future notifications or alerts, please visit the website here. 

About University of Kentucky

The University of Kentucky is a public, land-grant university dedicated to improving people's lives through excellence in education, research and creative work, service and health care. As Kentucky's flagship institution, the university plays a critical leadership role by promoting diversity, inclusion, economic development and human well-being.

The University of Kentucky:

  • Facilitates learning, informed by scholarship and research;
  • Expands knowledge through research, scholarship and creative activity; and
  • Serves as a global community by disseminating, sharing and applying knowledge.

The university plays a critical leadership role for the Commonwealth of Kentucky by contributing to the economic development and quality of life within Kentucky's borders and beyond. The university nurtures a diverse community characterized by fairness and equal opportunity.

About BondLink

Led by founders Colin MacNaught, CEO, and Carl Query, CTO, BondLink’s cloud-based debt management platform is the $4 trillion municipal bond market’s first fully integrated operating system for public sector CFOs to raise capital from institutional and retail investors. Since the launch of its first debt management platform four years ago, BondLink has expanded its network across more than 30 states, as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Headquartered in Boston, BondLink is backed by top investors, including Franklin Templeton Investments, one of the largest municipal bond fund managers in the country. For more information, please visit www.bondlink.com.

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For more information contact:
Media Contact

Jay Blanton

AVP/Chief Communications Officer



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