HJ Sims is pleased to have helped make the refinancing possible. It conducted a comprehensive bank solicitation seeking a $45 million taxable credit facility, comprising a $30 million line of credit and letters of credit for up to $15 million. The facility is secured by a pledge of gross revenues and a mortgage on Elwyn’s main campus on parity with Elwyn’s $56 million of outstanding tax-exempt bonds and tax-exempt/taxable bank debt.
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