HJ Sims Provides $18.245M in Financing for Texas Multi
Campus Charter School Network
$18,245,000 | SAN ANGELO, TX | MAY 2026
Partnered Right®
Texas Leadership Charter Academy dba Texas Leadership Public Schools (“Texas Leadership”) is a Texas-based 501(c)(3) nonprofit charter school system founded in 1997, operating five schools across ten campuses and serving more than 4,000 students from pre-K through 12th grade. The organization transitioned from a private school model to an open-enrollment charter system in 2009 and has since expanded across multiple Texas markets, including San Angelo, Midland, Arlington, Abilene, and Cedar Hill.
HJ Sims’ Senior Banker Rob Nickell has maintained an ongoing relationship with Texas Leadership, previously serving as underwriter on the borrower’s Series 2021 financing, resulting in a strong foundation of trust and familiarity with the credit. In late 2025, Texas Leadership engaged HJ Sims as underwriter, seeking financing to support the funding of campus improvements, the construction of new facilities and the refinancing of approximately $8.5 million in outstanding debt related to their Series 2013A Note.
Structured Right®
HJ Sims structured a comprehensive financing plan to meet Texas Leadership’s need for both new money and the 2013A refinancing. The transaction consisted of approximately $17.855 million of tax-exempt Series 2026A Bonds and $390,000 of taxable Series 2026B Bonds, issued through the Newark Higher Education Finance Corporation. The tax-exempt series consisted of the following 4 term bonds: 15 Year (2041) maturity yielding 5.375% at par, 20-year (2046) maturity yielding 5.75% at par, 25-year maturity (2051) priced at 5.75% to yield 6.0%, and finally, a 30-year (2056) maturity priced at 6.0% to yield 6.125%. The taxable bonds consisted of a single 2-year term priced 7.0% at par.
The structure was designed as a long-term, fully amortizing debt profile with the final maturity extending through August 2056, aligning repayment with the useful life of the financed assets. Proceeds were allocated to fund capital improvements across multiple campuses, support new construction in Abilene, acquire and renovate facilities in Cedar Hill, and refinance approximately $8.5 million of Series 2013A debt.
Executed Right®
HJ Sims successfully priced the Series 2026 financing on May 19, 2026 by leveraging strong institutional demand and deep relationships within the municipal bond market. The bonds were fully placed with institutional investors with all maturities being fully subscribed. In total, 7 institutional asset managers participated in the transaction, which included large orders from multiple firms, highlighting the strength of HJ Sims’ distribution capabilities.
Financed Right®
Despite a late-stage structural pivot required in response to feedback from the Texas Attorney General’s Office, HJ Sims demonstrated flexibility and expertise by successfully adapting the financing structure without disrupting the transaction or Texas Leadership’s project timeline. Thanks to the leadership, flexibility and creativity of the HJ Sims’ banking and underwriting teams, this transaction closed successfully on June 18, 2026, providing Texas Leadership with over $3.7 million in present value savings and the capital needed for their future projects. We are grateful to have once again paired with this great organization and look forward to maintaining this relationship for years to come.
For more information on how this project was Financed Right® by HJ Sims, please contact:
Robert Nickell
214.681.0952