SEED School of Maryland

SEED Maryland is a statewide college-preparatory public boarding school which offers a unique opportunity for at-risk Maryland students to get a tuition-free boarding education.  Beginning with 80 enrolled sixth graders in 2008, SEED Maryland has grown to serve over 400 students in grades 6 through 12. The Maryland General Assembly passed special legislation to establish the School and provide for substantial annual public funding of the School and the Maryland State Department of Education oversees the operations of the School to ensure compliance with State and Federal standards for teaching and learning.

$20,500,000
MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY
The SEED School of Maryland Issue
Series 2019

Wye River Group Served as The SEED School of Maryland’s Independent Financial Advisor for this Transaction.

Project Overview

Refinancing of its outstanding Series 2010 Bonds issued by MHHEFA.

Financing Overview

In June of 2019, Wye River conducted a competitive solicitation for a non-bank qualified tax-exempt direct loan for up to $20.5 million. SEED Maryland received 10 highly competitive proposals and ultimately selected a lender that provided very favorable pricing for the loan, including a fully-amortizing 18-year conventional fixed rate commitment around 2.5%. The financing successfully closed in October 2019.

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