Public Finance Authority

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PFA Closes $24 MM Financing for St. John’s College

The Public Finance Authority (PFA) issued $24,460,000 million of revenue bonds for St. John’s College to finance and refinance the costs of capital projects on their Annapolis, Maryland and Santa Fe, New Mexico campuses.

St. John's College is a coeducational liberal arts college. The graduate and undergraduate curriculum of the College is based on the study of the great works in the humanities and sciences and premised on the belief that inquiry and discussion are at the heart of learning. The College was founded in Annapolis, Maryland. A second campus dedicated to the same educational vision was opened in 1964 in Santa Fe, New Mexico.

The Project will assist the Borrower in the refinance of three series of bonds which will save the campuses money and consolidate outstanding debt. Additionally, there will be an update to infrastructure and interior projects which will keep both campuses more up to date.

PFA partnered with Kutak Rock LLP and George K. Baum & Company to provide financing to St. John's College.