Construction Loan Facility/Capital Campaign Multiple Adv. Term Loan Facility
The Oakwood School Issue
Wye River Group Served as Oakwood’s Independent Financial Advisor for this Transaction
The School’s Project involves the renovation and expansion of eight classrooms and the construction of a new gymnasium and entranceway.
On behalf of Oakwood, Wye River negotiated with Fulton Bank to secure a two part financing. The first tranche will bridge receipts of the School’s ongoing capital campaign. The second tranche will serve as long term debt of the School. The School secured a rate commitment for 10 years in the range of 2.50 – 3.00%, inclusive of a two year interest only period.
The financing successfully closed on August 31, 2020.