Value Delivered:

KNN Public Finance & Zions Bank Public Finance helped Westside Waldorf School structure 501 (c) (3) non-profit bonds to secure a 25-year land lease.
   
Strategic Implementation:

The non-profit landlord offered Westside Waldorf School below-market rate rental fees at $21,000 per month, escalating 3% per year. KNN, teaming with the Zions Bank Public Finance office in Boston, worked with California I-Bank to issue its first ever independent school transaction.
   
Results:

KNN & Zions Bank Public Finance structured $3 million in variable rate demand bonds and the School locked in a 20-year Libor-based swap at 3.8%, to compensate for the 25-year land lease in Pacific Palisades.