HJ Sims Successfully Closed on the $21.960 Million Series 2024 Bonds.
Partnered Right®
Cornerstone Charter academy is a K-12 charter school serving students in Greensboro, North Carolina. Cornerstone Charter academy focuses on the coherent and challenging application of a content-rich curriculum with the goal of each student exceeding current standard in Rigorous Academic program. The school currently has about 1,345 students and plans to reach 1,434 by the 2028-2029 school year.
Structured Right®
The series 2024 Bond proceeds were used to fund the finance and refinance the construction, improvement, and expansion of its existing educational facilities including an athletic facilities and music education facilities. The proceeds were also used on the cost of issuance, reserve fund, and capitalized interest. The bonds have a call option on February 1, 2032 at par.
Executed Right®
The tax-exempt bonds have 2 term bonds, both with coupons at 5% maturing after 30 and 40 years. During initial pricing, the total issuance was oversubscribed by 6.7x. In total, 9 different institutional investors participated in the transaction.
Financed Right®
On October 1, 2024, HJ Sims successfully closed on the $21.960 million Series 2024 Bonds.
Robert Nickell
214-681-0952
John Solarczyk
949-244-1679
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