“We were very disappointed when our prior underwriter failed to get our project fully funded when we initially went out to the bond market in December 2023. We re-grouped with the Sims team who guided us through our first S&P rating process to secure a “BB” rating. Sims ushered us into the bond market and successfully funded our project with three times the orders needed. We were ecstatic to be fully funded. Sims is a determined and hardworking finance team and we will continue working with them on all of our projects.”
– Carolyn Sawyer, Superintendent
Partnered Right®
Champion Schools is a K-8 charter school serving students across 3 Arizona campuses in Phoenix, San Tan Valley, and Chandler. Champion Schools emphasizes the beneficial effect athletics has in children’s academics such as creating self-esteem and achieving a higher cognitive potential. The school currently has about 1,518 students and plans to reach 1,711 by school year 2028-2029.
Structured Right®
The Series 2024 Bond proceeds were used to fund the purchase and improvement of the San Tan Campus (which they previously occupied under a lease), a debt service reserve fund, and costs of issuance. The bonds have an optional call option beginning on June 15, 2031 at a price of 102% declining to par after 2 years.
Executed Right®
The tax-exempt bonds have 4 term bonds, with coupons ranging from 5.375% to 6.375% on the 40-year maturity. During initial pricing, the total issuance was oversubscribed by 3.8x. In total, 8 different institutional investors participated in the transaction.
Financed Right®
On June 18, 2024, HJ Sims successfully closed on the $16.175 million Series 2024 Bonds.
For more information, please contact:
Akshai Patel
602.476.4934
John Solarczyk
949.244.1679