Project Overview
Wye River Group served as financial advisor to Goucher with respect to the public offering of its Series 2017A revenue bonds totaling approximately $57.6 million by the Maryland Health and Higher Educational Facilities Authority on behalf of the College. The proceeds of the Series 2017A Bonds financed the current refunding of the College’s outstanding Series 2012B and 2012C Bonds as well as costs associated with the bond issuance. The $30 million Series 2017B Bonds were issued through a direct bank purchase with the proceeds loaned to the college to fund the costs associated with certain improvements to campus facilities. To secure a synthetic fixed rate for the Series 2017B Bonds, Wye River Group designed a restructuring of an existing interest rate swap on the College’s balance sheet to hedge the Series 2017B Bonds and avoid an otherwise high termination cost.
