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Minnesota Higher Education Facilities Authority Announces Results of Its Recent Bond Sale
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Minnesota Higher Education Facilities Authority

Issuer Type: Pool/Bond Bank/Conduit

Bond Ratings

1 of 19

Augsburg College

Moody's
Ba1

Bethel University

Moody's
NR
S&P
BB+

Carleton College

Moody's
Aa2

College of Saint Benedict

Moody's
Baa1

College of Saint Scholastica

Moody's
Baa2

Concordia College (Moorhead)

Moody's
Baa1

Concordia University - St. Paul

Moody's
NR*

Dunwoody College of Technology

Moody's
NR**

Gustavus Adolphus College

Moody's
A3

Hamline University

Moody's
Baa3

Macalester College

Moody's
Aa3

Minnesota College of Art and Design

Moody's
Baa2

Mitchell Hamline School of Law

Moody's
NR*

Northwestern College of Health Science

Moody's
NR**

Saint John's University

Moody's
A2

Saint Mary's University of Minnesota

Moody's
NR**

St. Catherine University

Moody's
Baa1

St. Olaf College

Moody's
A1

University of St. Thomas

Moody's
A2
Barry W. Fick

On behalf of the Minnesota Higher Education Facilities Authority (MHEFA), I would like to welcome you to our investor relations website. We appreciate your interest and investment in bonds issued by the MHEFA, as it allows us to make critical investments in educational infrastructure. We are committed to maintaining strong bond ratings on our bond issues, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of the MHEFA. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.

Barry W. Fick, Executive Director

News & Highlights

February 5, 2021

Press Release
Minnesota Higher Education Facilities Authority Announces Results of Its Recent Bond Sale

For Immediate Release: February 5, 2021

ST. PAUL, MN — The Minnesota Higher Education Facilities Authority (MHEFA), today, announced the successful sale of its Series 2021 Revenue Bonds, St. Olaf College Project which sold through negotiated sale on February 3, 2021. The proceeds of the bonds will be used to finance enhancements to the St. Olaf College campus, including a new residence hall and additional housing.

“This bond sale was very successful, with over $1 billion in orders for approximately $57 million of bonds. The bonds were well received by investors due in part to the financial strength and reputation of the College. Additionally, a low supply of bonds in the market and investor demand helped the offering receive a strong reception.” said Barry W. Fick, Executive Director of MHEFA.

The sale consisted of four term bonds maturing in October 2038, 2041, 2046, and 2050. After the order period, the par amount of the term bonds was increased based on the strong demand. In addition, the substantial oversubscription for the bonds allowed yields to be reduced on all four maturities.

Piper Sandler & Co. served as underwriter for this transaction with North Slope Capital Advisors acting as Municipal Advisor.

About Minnesota Higher Education Facilities Authority

MHEFA assists institutions of higher education within the State in the construction and financing of capital projects. MHEFA has issued bonds totaling over $3.00 billion, of which approximately $922 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

bwf@mnhefa.org

(651) 296-4690

Read Press Release

January 29, 2021

Press Release
Minnesota Higher Education Facilities Authority Announces Details of Its Upcoming Bond Sale

For Immediate Release: January 29, 2021

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.

For more information:

Barry W. Fick, Executive Director, MHEFA

bwf@mnhefa.org

(651) 296-4690

Read Press Release

October 14, 2020

News
MHEFA Requests Responses to Municipal Advisor Request For Proposal

The Minnesota Higher Education Facilities Authority (“MHEFA”) is requesting your consideration of providing a response to this Request for Qualifications / Request for Proposal (“RFP”) to provide Municipal Advisor services to the Authority.

Please follow the link below to download the RFP form.

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