Public Finance Authority

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PFA Closes $111 MM Financing for the North Carolina Charter Educational Foundation, Inc.

The Public Finance Authority (PFA) has provided $111 million to finance education revenue bonds for the North Carolina Charter Education Foundation (the “Borrower” or “NCCEF”). NCCEF will use the bond proceeds to acquire, construct, renovate and equip educational facilities. The school facilities are located in the cities of Concord, Kannapolis, Mooresville and Troutman, North Carolina. There are six different facilities included in this project, serving students in grades K-12.

The Borrower is a North Carolina not-for-profit entity organized exclusively for educational purposes. They are comprised of respected leaders in the state of North Carolina that are committed to providing high quality educational options for the students and families in North Carolina. The Borrower has partnered with Charter Schools USA to accomplish their goals.

PFA partnered with Kutak Rock, LLP and BB&T Capital Markets to provide financing to NCCEF. The bonds financed will provide numerous public benefits to all of the teachers, staff and students.