“Cornerstone Charter Academy is a well established successful K-12 charter school. This success afforded us the luxury of not having to think about our financing. So when it came time to expand we barely knew where to start. As the saying goes, what we did not know could fill a book. The HJ Sims team stepped in and walked us through the entire bond process in a way that not only ensured its success but also allowed us to understand the process. This allowed us to provide critical facilities upgrades for our students and families, and, just importantly, gave us the financial knowledge and wherewithal to protect those upgrades for years to come. I say this with neither exaggeration or equivocation. We could not have done this without the HJ Sims team. Their efforts may go unheralded among our stakeholders, but what they did made a difference in the lives of our 1,330 students, 800 families and 111 staff members not only this year, but for many years into the future.” - Joe Caraher, Director Cornerstone Charter - A Challenge Foundation Academy

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 standards in a 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 a new gym and music room. The bonds have a call option beginning on February 1, 2032 at par.
Executed Right®
The tax-exempt bonds have two term bonds with coupons at 5% maturing in 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®
HJ Sims facilitated the engagement with S&P for a new rating of “BBB-/Stable,” giving the school access to more investors in the investment-grade category
and improving pricing. On October 1, 2024, HJ Sims successfully closed on the $21.960 million Series 2024 Bonds.