The Public Finance Authority (PFA) announces the closing of a public-private partnership financing for student housing at San Diego State University (SDSU). As a result of PFA’s unique financing and project ownership, SDSU will realize several benefits:
The Senior Series A Bonds are unrated and unenhanced fixed-rate bonds with a term of 35 years. Interest and principal on the Subordinate Series B Bonds issued to the Seller as part of the purchase price will be payable out of available cash flow after debt service and principal on the Series A Bonds are paid.
The finance team included Orrick, Herrington & Sutcliffe, LLP as bond counsel, BLX Group as financial advisor, von Briesen & Roper, s.c. and Phillips Borowski, s.c. as co-issuer counsel, and Stoel Rives, LLP as issuer’s real estate counsel.