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Independent Schools

Taft School Issue, Series K

Bond proceeds provide for the refunding of the School's 2000 Series E and 2015 Series J variable rate bond issues.  The Series K issue was a fixed rate issue, and was structured to provide uniform debt service when combined with the existing Series I bonds outstanding. 

The Series K bonds have an optional redemption date of July 1, 2028.  The Series K bonds are rated Aa3 by Moody's.  The net interest cost for the issue was 3.53%.

Brass City Charter School Issue, Series A

Bond proceeds provided for the renovation and expansion of the school, located in Waterbury.  The Series A issue was structured as a variable rate transaction with a 30-year term amortization, and a 10-year mandatory put. 

The issue was a direct bank purchase by Webster Public Financial Corporation.  The net interest cost for the issue was 4.01%.

The Marvelwood School Issue, Series B

Bond proceeds provided for the refinancing of the School's outstanding commercial bank loan, which was used to current refund CHEFA's Marvelwood School Issue, Series A bond issue, issued in 2000.  In addition proceeds financed miscellaneous improvements to the Star, Sterling, Summit and Lake dormitories.

Loomis Chaffee School Issue, Series J

Bond proceeds financed a portion of the construction of a new Campus Center and a new dining hall.

Westover School Issue, Series C & D

Series C bond proceeds of $6.791 million provided for the refunding of the School's 2007 Series B bond issue.  Series D proceeds of $14.539 million financed campus renovations, including construction of a new student center; replacement of heating, cooling, electrical and plumbing systems; installation of an elevator; and renovations to all classrooms, offices, study and dining halls and a former student center building.

Kent School Issue, Series H

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.

Hopkins School Issue, Series D

Bond proceeds provided for the refunding of the School's 2008 Series B bond issue.  The net present value savings was over $920,000, or 11.6%.

Loomis Chaffee School Issue, Series I

$20.4 million of tax-exempt and $3.1 million of taxable bond proceeds provided for the advance refunding of the School's 2008 Series G bond issue.  The net present value savings for both issues was over $3.2 million, or 13.5%.

Eagle Hill School Issue, Series B

Bond proceeds provided for the refunding of the School's 2005 Series A bond issue, and to fund renovations to Eagle Hill's Hardwick House, the relocation and construction of driveways, parking lots and sidewalks, and other campus projects.  The Net Interest Cost for the new issue was 2.33%, compared to a 3.02% rate on the prior bonds.

The Ethel Walker School Issue, Series D

Bond Proceeds provided for the advance refunding of the School's 2009 Series B issue, and to fund a portion of the construction of a new Student Center.  The refunding provided over $2.4 million, or 31.5%, in debt service savings.

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