FINANCIAL_SERVICESAMENDED

George Mason University Finance and Land Use Committee Meeting April 2026

GMU expands Atlantic Union Bank credit facility by $15M

Increase of up to $15,000,000 (revised aggregate authorization not to exceed $83,000,000)George Mason UniversityATLANTIC UNION BANKApril 15, 2026

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Description

The Board of Visitors approved an amendment to George Mason University's existing line of credit with Atlantic Union Bank, increasing available capacity by up to $15 million to a new aggregate maximum of $83 million. The expanded facility, with a term of up to 20 years, will support capital expenses and other permitted corporate purposes under cost-efficient short-term financing terms.

Contract Details

Contract Amount

Increase of up to $15,000,000 (revised aggregate authorization not to exceed $83,000,000)

Vendor

ATLANTIC UNION BANK

Agency

George Mason University, VA

Contract Type

FINANCIAL_SERVICES

Document Date

April 15, 2026

Contract Term

Maximum term of 20 years

Renewal Info

Amends the May 2022 delegated authority authorizing up to $68 million, raising the ceiling to $83 million while retaining the original maximum 20‑year term; facility may operate on a revolving basis under approved parameters.