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Higher Education

University of New Haven Issue, Series K

Bond proceeds from the public offering will provide for the refinancing of all of the University's outstanding CHEFA debt, and financing construction of an academic center for science technology and innovation.

Yale University Issue, Series 2017 C-2

Bond proceeds financed construction and renovation projects, including construction of two new residential colleges, the new Science Building, renovations and improvements to Sterling Memorial Library, and renovations and improvements to various residence halls and academic buildings.  The bond issue was structured with a 5-year mandatory tender.

Yale University Issue, Series C-1

Bond proceeds from the Series C-1 issue financed the advance refunding of the University's Series 2010 A-2 bond issue.  The issue was structured with a 10-year mandatory tender.

Fairfield University Issue, Series R

Bond proceeds provided for the advance refunding of the University's 2010 Series O bonds, and $35.3 million to fund a portion of the following projects: renovation of residence halls, construction of a 125-bed residence hall for upper classmen, reconfiguration of the library into an Academic Commons, and refurbishment of laboratories in the science center.  The refunding achieved over $7.1 million in net present value savings, or 9.6%.

Sacred Heart University Issue, Series J

Bond proceeds financed the current refunding of the University's 2003 Series F bond issue and the advance refunding of its 2011 Series G issue.   The Series J bond issue consists of tax-exempt and taxable components.  The net present value savings for the Series J-1 issue was over $1.4 million, or 2.6%.

Sacred Heart University Issue, Series I

Bond proceeds financed the advance refinancing of the University's 2012 Series H bond issue and the payoff of an existing construction line of credit, and new money projects for a new 176-bed residential facility, a new athletic facility and the Radio Station/Public Safety Building.  The bond issue consists of tax-exempt and taxable components.  The net present value savings for the Series I-1 issue was over $360,000, or 3.4%

Yale University Issue, Series 2017 A & B

Series 2017A bond proceeds provided for the refunding of the University's 2007 Series Z-2 and Z-3 bond issues.  Series 2017B refinanced Yale's 1997 Series T-1 and 2003 Series X-3 bond issues.

The Net Interest Cost for Series 2017A was 1.50%, which refinanced the Series Z-2 and Z-3 interest rate of 3.60%.  Series 2017A is structured with a 5-year mandatory tender date, and a 25-year maturity.

Trinity College Issue, Series Q

Bond proceeds provided for the refunding of the College's 2007 Series J bond issue.  The new present value savings was over $11.4 million, or 23.0%.

Connecticut State University System Issue, Series P

Bond proceeds provided for the refunding of the System's 2005 Series G and partial refunding of Series H bond issues, and to fund a variety of capital projects at the four System Universities, including renovating an academic center to a residence hall at Eastern Connecticut State University.  The competitive bid bonds achieved over $1.7 million in net present value savings, or 2.85%.

Connecticut College Issue, Series L

Bond proceeds provided for the refunding of the College's 2007 Series F&G bond issues.   In addition, $15 million in new money proceeds provided for campus improvements, including a career planning center, a Global Commons facility, residential facilities, the upgrade and/or replacement of building roofing, plumbing, mechanical, utility, and electrical systems, and technological infrastructure.  The refundings achieved over $1.6 million in net present value savings, or 4.10%.

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