University of Tennessee Executive Committee Agenda May 2026
Regions finances $40.1M loan for UT NSPC facility
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Description
Regions Bank will provide a $40.1 million, 20‑year loan to finance construction of the National Security Prototype Center, with UT’s lease serving as collateral. Loan terms contemplate tax‑exempt or taxable fixed rates depending on qualification of the facility’s use.
Contract Details
Contract Amount
$40,097,682 Project Loan; indicative fixed interest rate 4.08% if tax exempt or 5.25% if taxable, amortized over 20 years
Vendor
REGIONS BANK
Agency
The University Of Tennessee System Office, TN
Contract Type
FINANCIAL_SERVICES
Document Date
May 2, 2026
Contract Term
20-year fixed-rate loan starting at project loan closing
Renewal Info
Loan has a fixed 20‑year amortization; refinancing could occur upon maturity or earlier restructuring but is not detailed in the term sheet.
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