$40,650,000 | June 2025 | Gilbert, AZ
“Our experience with the HJ Sims team has been consistently positive. They are very knowledgeable in the municipal bond space, well-organized throughout the process, and maintain a professional approach from start to finish. We value their reliability and clear communication, and we look forward to continuing to work with their team.
Partnered Right®
San Tan Montessori School (“San Tan”) operates two charter schools in Gilbert, AZ. Together, the campuses serve over 900 students from preschool
through grade 12. San Tan received approval from the Arizona State Board for Charter Schools to open a third campus, the Signal Butte School.
To support this growth, Sims was selected for its deep charter school experience and leading track record in underwriting below investment grade
bonds. Sims collaborated closely with school management aligning on goals to build out a third campus while optimizing financing for its existing
operations.
Structured Right®
The $40.65 million financing proceeds were designed to support the construction of the new Signal Butte Campus, refinance existing debt,
and fund capital improvements. The structure featured multiple long-term maturities for the four term bonds, extending out to 2065, allowing for
manageable annual debt service. The bonds also included capitalized interest to support the school through the initial enrollment ramp-up.
Executed Right®
Despite a challenging market backdrop during pricing, Sims successfully brought the transaction to the market. The offering received indications of interest from 10 institutional investors, and bonds were ultimately allotted across 6 of them — a strong result given volatility in the high-yield
municipal market.
Financed Right®
In June 2025, HJ Sims successfully placed $40.65 million in unrated, tax-exempt revenue bonds with institutional investors. The transaction enables San Tan to expand capacity and continue serving a growing student population across the Phoenix metro area.
Aksjai Patel
602.476.4934
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