Value Delivered:

Since 1999, KNN Public Finance has served as the sole financial advisor for the California State University System, helping to transform its multiple revenue bond programs into one combined program.
   
Strategic Implementation:

KNN helped CSU design and execute a new pooled security structure that wraps all future revenue bond programs under a single indenture, eliminating separate housing, parking, and student union bond issues.
   
Results:

This new structure designed by KNN reduced the cost of borrowing, expanded the CSU System's financing capability, and significantly reduced the amount of staff time needed to bring bond issues to market. It eliminated the need for a debt service reserve fund and reduced the net revenue coverage requirement from as high as 1.35 to 1.0, allowing CSU greater latitude in managing its debt.