FINANCIAL_SERVICESAPPROVED

LSU Board of Supervisors Agenda 2026-06-26

UNO Student Housing Bonds Restructured With JPMorgan

$24,680,000 outstanding principal; 2.96% interest; restructured principal schedule through September 1, 2035Louisiana State University-EuniceJPMORGAN CHASE BANK N.A.June 26, 2026

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Description

The LSU Board will concur with the University of Louisiana System’s resolution to amend the Series 2022 revenue refunding bonds for University of New Orleans student housing, restructuring the $24.68 million outstanding balance held by JPMorgan Chase Bank, N.A. Principal payments will be shifted to later years while maintaining the 2.96% interest rate and 2035 maturity, providing immediate cashflow relief to UNO.

Contract Details

Contract Amount

$24,680,000 outstanding principal; 2.96% interest; restructured principal schedule through September 1, 2035

Vendor

JPMORGAN CHASE BANK N.A.

Agency

Louisiana State University-Eunice, LA

Contract Type

FINANCIAL_SERVICES

Document Date

June 26, 2026

Contract Term

Through September 1, 2035

Renewal Date

2035-09-01

Renewal Info

Amends the existing 2022 bond facility by revising the amortization schedule while keeping rate and maturity; implemented through a Second Supplemental Agreement of Lease for Residence Facilities between the UNO Research and Technology Foundation and the UL System Board, with LSU Board concurrence due to UNO’s transfer.