Saint Francis High School

Wye River Group proudly served as Saint Francis High School’s independent financial advisor for this transaction.

$40,000,000
California Municipal Finance Authority
2021 Tax-Exempt Loan
(Saint Francis High School of Mountain View, California)

INTRODUCTION

Founded in 1955, Saint Francis High School is a coeducational college preparatory school rooted in the Catholic values of the Holy Cross tradition. The School is committed to providing the finest college preparatory education in an inclusive family environment, encouraging its 1,750 students to achieve their highest potential through spiritual, intellectual and social development.

PROJECT OVERVIEW

Proceeds of the 2021 Tax-Exempt Loan were used to fund a portion of the costs associated with the School’s development of a new science and innovation center (Phase 1A) and a new dining facility (Phase 1A). The Phase 1A and 1B projects are part of a campus-wide redevelopment plan that is expected to span a number of years.

FINANCING OVERVIEW

In October 2020, Wye River conducted a competitive solicitation of approximately 30 commercial lenders with a request for up to $40 million of tax-exempt draw down financing. Multiple highly competitive proposals were received pursuant to that effort. Saint Francis selected a lender which provided a 30 year, fully-amortizing commitment with aggressive interest rates and terms (including flexible financial covenants, additional indebtedness provisions and prepayment rights). Saint Francis was able to secure the fixed rate on its financing at near historically low levels in the market.

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