ST. PAUL, MN — The Minnesota Higher Education Facilities Authority (MHEFA) announced today it is offering approximately $58 million of Series 2021 Revenue Bonds, St. Olaf College Project on February 3, 2021. The bonds will be offered via negotiated sale through Piper Sandler & Co. The Municipal Advisor is North Slope Capital Advisors.
“This bond sale will provide financing for enhancements to the St. Olaf College campus. We anticipate a successful bond sale and are confident the school’s strong bond rating and financial strength will prove attractive to investors,” said Barry W. Fick, Executive Director of MHEFA.
St. Olaf’s 350-acre campus is located in the city of Northfield, Minnesota, 40 miles south of the Minneapolis/Saint Paul metropolitan area. The College also owns approximately 650 acres of land that adjoins the campus. In addition, several hundred acres have been set aside as natural lands.
The physical facilities include 17 academic and administrative buildings, 11 student residence halls, and 10 athletic competition venues. The College also owns 36 off-campus houses, 24 of which are used as student housing. St. Olaf College’s 3,000 students come from all 50 states and82 foreign countries. Fifty-seven percent (57%) of full-time students come from outside Minnesota. St. Olaf offers 44 graduation majors, including 10 teaching certifications, 129 concentrations and 20 pre-professional fields.
A Preliminary Official Statement has been released and is available at www.mnhefabonds.com. St. Olaf College’s Series 2021 bonds are rated “A1” by Moody’s.
MHEFA assists institutions of higher education within the State in the construction and financing of capital projects. MHEFA has issued bonds totaling over $2.85 billion, of which approximately $900 million is outstanding. Bonds issued by MHEFA are payable only from the loan repayments made by the borrowing school. MHEFA bonds do not represent or constitute a debt or pledge of the faith or credit or moral obligation of the State of Minnesota. MHEFA has no taxing power.
Add this issuer to your watchlist to get alerts about important updates.
UNDER NO CIRCUMSTANCES SHALL THE INFORMATION ON THE SITE
CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY,
NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY JURISDICTION IN
WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO
REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY
SUCH JURISDICTION. OFFERS TO PURCHASE SECURITIES MAY BE MADE
ONLY THROUGH A REGISTERED BROKER-DEALER AND THROUGH AN OFFICIAL
BondLink has not prepared or developed any of the Content on the Site and the Content
available on the Site with respect to any issuer is not maintained by or under the control
of BondLink. The content on this Site with respect to any issuer was specifically
authorized by that issuer to be communicated through this Site. BondLink has not
reviewed such information in any respect and has not checked such information for
accuracy, and in some cases, the information provided may not have been viewed by
BondLink. The Content contained on the Site has been provided by the applicable
issuer and is included for general informational purposes only and is provided without
warranty of any kind and, in particular, no representation or warranty, express or
implied, is made or is to be inferred as to the accuracy, reliability, timeliness or
completeness of any such information. The Content presented on the Site speaks only
as of the date the Content was prepared by the issuer or other third party and has not
been updated since that date and as a result, may not address all factors which may be
material to an investor and may contain omissions of fact or statements that are not
accurate because of the passage of time or changes in facts or circumstance
subsequent to the date of such Content. Consequently, no person should make any
investment decision in reliance upon the Content contained on the Site. See “Terms”
against BondLink for use of this website.