Maryland Health and Higher Educational Facilities Authority
Bishop McNamara High School Issue
(Series 2019 A&B)
Wye River Group Served as the Bishop McNamara’s Independent Financial Advisor for this Transaction.
Wye River Group served as the Authority’s independent financial advisor to finance the costs of the construction and equipping of a one-story, approximately 20,000 square foot science and innovation center.
BMHS sought to negotiate a new direct tax-exempt loan with its existing lender. (In 2016, BMHS closed on a similar financing with the same lender on very favorable terms). Wye River conducted the negotiation and a commitment letter for the financing was executed in October. The transaction closed on the School’s preferred schedule before the end of 2019 and is structured in two components – a $3.75 million permanent piece of debt (2019A) and an $8 million interim piece of debt (2019B) designed to be repaid with proceeds of the School’s capital campaign.