For Immediate Release: May 10, 2021
ST. PAUL, MN — The Minnesota Higher Education Facilities Authority (MHEFA) announces it is offering approximately $22 million of Saint John’s University Revenue Bonds, Series 2021 on or about Tuesday, May 18, 2021. The bonds will be offered via negotiated sale through RBC Capital Markets. The Municipal Advisor is Baker Tilly Municipal Advisors LLC.
“This bond sale will provide financing for improvements to the Saint John’s landscape which will include new townhouse-style residence halls, Science Center renovations, other campus building renovations, and a pedestrian foot bridge connecting the upper and lower campus. For Saint Johns’ students, most of whom live on campus throughout their University experience, these improvements will enhance student life. We anticipate a successful bond sale and are confident the University’s strong bond rating of A2 (Moody’s Investors Service) shows the University’s fiscal stability and will prove attractive to investors,” said Barry W. Fick, Executive Director of MHEFA.
Saint John’s University (for men), along with the nearby College of Saint Benedict (for women) are nationally recognized liberal arts colleges distinguished by a singular, undergraduate experience. Their partnership gives students the opportunities of a large university while retaining the close personal attention of a premier liberal arts college.
Set amid 2,700 acres of varied terrain, the Saint John's campus is remarkable in its natural beauty. It includes wetlands, several lakes, an oak savanna, a restored prairie, and hiking trails that wind through an extensive pine and hardwood forest. In addition to its recreational value, the landscape inspires spiritual and artistic reflection and fosters the Benedictine traditions of land stewardship, education, and environmental respect.
A Preliminary Official Statement has been released and is available at www.mnhefabonds.com. The Minnesota Higher Education Facilities Revenue Bonds, Series 2021 (Saint John’s University) are rated “A2” 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 $3.1 billion, of which approximately $964 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.
For more information:
Barry W. Fick, Executive Director, MHEFA