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Kent School Issue, Series H

Borrower: 
Kent School
Par Amount: 
$18,800,000
Purpose: 

Bond proceeds provided for the refunding of the School's 2013 Series F bond issue, and for construction of squash courts and other capital improvements.  The issue was structured at three years interest only, converting to a fully amortizing loan with a twenty-seven year amortization schedule.  The refunding achieved over $418,000 in net present value savings.

Underwriter/Placement Agent: 
Janney Montngomery Scott, LLC
Private Placement - People's United Muni Finance Corp. , a subsidiary of Peoples United Bank, N.A.
Closing Date: 
May 16, 2017
Final Maturity: 
May 1, 2047
Yield: 
2.95%

For further information, search EMMA for this issue.