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Independent Schools

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.

Westminster School Issue, Series J

Bond proceeds financed a portion of the construction of a new dining hall, student center and dorms.

Ridgefield Academy Issue, Series B

Bond proceeds were used to current refund Ridgefield's 2005 variable rate bond issue.

The Taft School Issue, Series J

Bond proceeds financed renovations to the School's dormitory buildings.

South Kent School Issue, Series A

Bond proceeds were used to finance the construction of a hockey rink, and to refinance a commercial bank loan.

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