Our Lady of the Woods Corporation
Taxable Draw-Down Term Loan
The School originally opened a half century ago with roots to Ursuline Academy. In 1975, a group of dedicated parents re-established it as Our Lady of the Woods Academy and then The Woods Academy. In 1977, the School moved to its current location at the intersection of Burdette and Greentree Roads in Bethesda. Today, Woods Academy is a renowned Montessori preschool and high school preparatory school educating boys and girls from age 3 through grade 8.
Proceeds of the loan will be used to fund certain capital improvements to the School’s main academic building.
The loan was structured as a taxable draw-down facility that converts to a 20-year, fully amortizing term loan at the end of the draw period. The interest rate on the Loan will be fixed for the term of the facility at 2.88%. The Loan is secured by a general revenue pledge of the School. The financing closed successfully on April 6.