Dundee University secures £40m financing facility

The University of Dundee has secured a £40 million financing facility to help bank-roll its business transformation programme.

The University of Dundee has more than 17,000 students. Picture: Jane Barlow

The five-year deal with Bank of Scotland takes the form of a revolving credit facility and will enable the Tayside institution to continue its investment in infrastructure, IT capability and improve its core business systems.

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Andrew Hewett, the university’s director of finance, said: “Our core mission is simple: to transform lives, locally and globally, through the creation, sharing and application of knowledge. To deliver on this promise we will be investing in academic areas and the professional services which support them.”

Graeme Keen, relationship manager at Bank of Scotland, added: “We are pleased to be working with the University of Dundee to help it deliver its ambitious vision to become Scotland’s leading university.”

The university has more than 17,000 students and 3,000 staff.