Maryland Health and Higher Educational Facilities Authority
The Norwood School Issue Series
Wye River Group Served as the Norwood School’s Independent Financial Advisor for this Transaction.
Norwood sought tax-exempt financing to fund the construction of a new Lower School Connector Building (to be named the Marriott Early Childhood Building) on the School’s 38-acre campus in Bethesda, Maryland.
In January 2020, Wye River conducted a competitive solicitation for a non-bank qualified tax-exempt direct loan for up to $10.5 million. Norwood received 13 highly competitive proposals and ultimately selected a lender that provided very favorable pricing, including a 20-year conventional fixed rate in the low- to mid-2% range. The financing successfully closed in May.