Value Delivered:

KNN Public Finance & Zions Bank Public Finance funded the construction of new additions to an independent school in Pacific Palisades through 501 (c) (3) non-profit bond issues.
   
Strategic Implementation:

Village School obtained $9.5 million in financing to build and install a gymnasium, multi-purpose room, performing arts classroom, classrooms, offices, underground parking, and athletic field on a 21,000-square-foot parcel in addition to improvements to existing facilities. The school's existing loan was refinanced as well.
   
Results:

This issue was structured with a Direct Pay Letter of Credit and a partial interest rate BMA swap for $6 million over 7 years at a rate of 3.185%.